In the Media - Presidio Bay

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Landlord-tenant partnerships could help spur CRE recovery in SF

September 20, 2023

Cyrus Sanandaji, founder and CEO of Presidio Bay Ventures, called on the commercial real estate community to get active in everything from returning to the office to putting its strength behind more business-friendly politicians in order to get the city’s spaces filled again.

“Apathy is really what got us here,” the developer said at a panel discussion at Bisnow’s San Francisco Retail and Restaurants Conference on Tuesday. “And people overlooking the significance of consequences.”

Michelin Guide-Listed Sushi Sensation Robin Opens on the Peninsula With No Menu in Sight

September 20, 2023

Because of the restaurant’s bespoke approach to omakase, diners are unlikely to ever have the same experience more than once. But the restaurant does have some signature offerings, which will be ported down to Menlo Park from San Francisco. On the nigiri front, expect to see Mt. Lassen Steelhead paired with yellow peach and local Half Moon Bay wasabi and, for a luxurious bite, saltwater-stored Japanese uni crowned with white sturgeon caviar from Sacramento. Sashimi might include hirame kombujime, or California halibut cured in Japanese kombu served with coconut and kabosu verjus, jicama, and smoked pineapple. The kitchen, led by head sushi chef Kentaro Ikuta, will also put out plates such as toro tartare made with morel reduced soy and sesame noodles dressed in Japanese “chimichurri” and black truffle.

Top S.F. sushi restaurant opens swanky new outpost

September 20, 2023

The new menu will be similar to the one in San Francisco, but not a carbon copy, said chef-owner Adam Tortosa. Staple dishes like the potato chip creation and aged beef nigiri covered with shaved foie gras will be served during a two-hour tasting menu. The seafood options are seasonal, featuring fish like black throat sea perch from Japan, charred Northern California rockfish or live uni from Mendocino. Ingredients like truffle butter, whipped tofu and aged soy sauce are often incorporated into the ever-changing omakase menu. The price ranges from $109 to $189 for 12 to 18 dishes, depending on what diners order.

September 18, 2023

“We have delivered a magnetic destination in the heart of Silicon Valley that attracts the Bay area’s best to live, work and play,” says K. Cyrus Sanandaji, managing principal of Presidio Bay. “Over the past three years, we have created a destination with thoughtfully designed spaces that allow for tenants, residents and the local community to interact.”

San Francisco Office Market Shows Signs of Life

September 17, 2023

Others are taking advantage of deeply discounted sales prices to spruce up their new purchases. K. Cyrus Sanandaji, managing principal of Presidio Bay Ventures, recently acquired the office tower 60 Spear Street in the city’s financial district for about $41 million, or some 62% less than it sold for in 2014.

That low price will enable Presidio to add such amenities as a rooftop restaurant and bar and a fitness center to the building, Sanandaji said.

Springline grand opening festivities take place from September 14-23

September 13, 2023

Two weeks of Springline Grand Opening festivities start on Thursday, September 14, and continue through Saturday, September 23. RSVP or purchase tickets to one or all of the events through the links online. Springline is on Oak Grove and El Camino.

Here Are the Bay Area’s Most Anticipated Restaurant Openings of Fall 2023

September 6, 2023

Robin Springline- Opening: Mid-September
Michelin Guide-listed sushi restaurant Robin has been one of San Francisco’s favorite high-end sushi destinations for years and soon chef Adam Tortosa and partner Michael Huffman will take the show down the Peninsula to open a second outpost at Springline, the ambitious Menlo Park development. 1300 El Camino Real, #C, Menlo Park

Che Fico Parco Menlo
Opening: Late September/Early October
James Beard Award semifinalist David Nayfeld will take his chic Italian restaurant Che Fico to Springline, the ambitious mixed-use development in Menlo Park. Che Fico Parco Menlo will stay true to its restaurant roots with some small updates for the South Bay scene. It opens in tandem with Il Mercato Di Che Fico, an Italian-focused market that will sell produce, prepared foods, wine, and gelato. 1300 El Camino Real, Menlo Park

GRAND OPENING – Menlo Park’s Springline Offers Experiential Community Events

September 6, 2023

“Thanks to the incredible hard work of our dedicated team of architects, engineers, consultants, contractors, community and city partners, our vision for Springline has now come to life. We have delivered a magnetic destination in the heart of Silicon Valley,” says Managing Principal K. Cyrus Sanandaji. “Over the past three years, we have created a destination with thoughtfully designed spaces that allow for tenants, residents, and the local community to interact.”

Menlo’s Park Fall 2023 “Craft Cocktail Fair” (Springline Grand Opening)

September 6, 2023

Join Springline Restaurants for an evening of cocktails and live music! Each participating restaurant will serve its signature cocktails and mocktails to bring you a taste of Springline. This event is free to the public with beverages available for purchase.

Participating Restaurants:
Che Fico; Burma Love; Andytown; Canteen Wine Bar; Barebottle

Spotted: Pretty — and tasty — octopus at Canteen in Menlo Park

August 31, 2023

We recently enjoyed a medley of tasty dishes at Canteen including our favorite fried Half Moon Bay Brussels sprouts and new-to-us “Papas Bravas” potatoes. But the biggest hit was the grilled octopus “a la Gallega” — a piece of art that tasted every bit as good.

Canteen, overseen by chef Greg Kuzia-Carmel, is located at 550 Oak Grove Avenue, part of the Springline development.

Another downtown office building sells at steep discount: ‘We believe in San Francisco’

August 31, 2023

“We viewed this as a generational opportunity to acquire an immaculately maintained and very well-located Financial District building at below replacement cost, and to do so with a skilled and trusted partner,” Connor Kidd, CEO of the Swig Co., said in a statement. “The Swig Co. believes in building strong and lasting partnerships and we believe in San Francisco.”

City Approves 642 Quarry Road In San Carlos

August 25, 2023

The City of San Carlos has approved plans for 642 Quarry Road in San Carlos, San Mateo County. The application would be the second life sciences project by the project developer, Presidio Bay Ventures, including two office buildings and a garage. Presidio purchased the property in 2022 for $34 million.

The proposal includes three structures with 643,890 square feet, including 410,070 square feet of leasable space and 233,820 square feet for the ten-story garage. The complex will have a capacity for 933 cars and 141 bicycles. Once complete, the complex could host 1,400 employees. Amenities will include a community childcare facility, outdoor public space, a fitness center, a yoga studio, and a golf simulator in the entertainment room.

Investment optimism in downtown San Francisco

August 24, 2023

KTVU's Heather Holmes speaks with Founder, CEO and Managing Director of Presidio Bay Ventures Cyrus Sanandaji about his recent real estate purchases in downtown San Francisco.

10 eagerly anticipated Bay Area restaurants for summer/fall 2023

August 21, 2023

Chef David Nayfeld’s Che Fico is one of the key pieces of the retail-culinary lineup for Springline, the massive mixed-use project that’s springing up along El Camino Real and bound to become a top dining destination.

Presidio Bay Ventures buys office building in Downtown SF for $41M

August 17, 2023

Real estate investor Cyrus Sanandaji has placed a $91 million bet on Downtown San Francisco, dubbed early this year as “the most empty downtown in America.”

The founder of locally based Presidio Bay Ventures has bought an 11-story, 56-year-old office building at 60 Spear Street in the south Financial District for $41 million, with plans to pour in another $50 million to fix it up, the San Francisco Chronicle reported.

Real estate developer bets big on San Francisco’s downtown

August 17, 2023

“They made decisions across the board to try this remote work,” said Sanandaji, “and now three years into this experiment, I think we’re hearing from all the major employers, all the major trend setters in that space — both from the operator’s side but also on the investment side — that it’s not working.”

The idea, for him, isn’t simply to be a landlord. Sanandaji also plans to build a rooftop lounge and restaurant.

When workers do return to the office, he believes the buildings they’re in should have spaces that invite them to stay. And, at night, they should be destinations for everyone else to enjoy.

‘The recovery is absolutely starting’: Why one contrarian office investor is buying in downtown S.F.

August 16, 2023

Last week Sanandaji backed up the talk with a big bet. His firm bought an office building at 60 Spear St. for $41 million and announced plans to invest another $50 million to make the 11-story structure, built in 1967, a model of what he says a post-pandemic office building should look like. At $240 a square foot, the price Presidio Bay paid for the building was 61.7% less than the $107 million the seller, Clarion Partners, had paid for it in 2014.

San Carlos OKs life science plan

August 16, 2023

San Carlos councilmembers approved plans for a new research and development campus proposal on the north eastern end of the city, clearing the way for more than 410,000 square feet of office space in exchange for millions of dollars worth of community benefits.

Much of Monday’s council meeting was spent discussing the commercial proposal at 642 Quarry Road, put forward by the firm Presidio Bay Ventures. Once complete, the project will comprise three buildings — two six-story office buildings and one nine-story parking garage — on a 4.7-acre site.

Wall Street Is Ready to Scoop Up Commercial Real Estate on the Cheap

August 15, 2023

In one recent example, the owner of a downtown San Francisco office tower unloaded the property for $41 million to developer Presidio Bay. The seller, Clarion Partners, had purchased the property for $107 million in 2014.

Real estate firm Presidio Bay Ventures is working on plan to diversify the industry

August 11, 2023

"We've all been well aware of the challenges as it relates to diversity and inclusion within real estate," Seth said. "Specifically, there's a lot of reasons that historically have prevented people of color, women, underrepresented groups and underserved communities, from really being in a position of decision making and autonomy within the context of real estate."

Ultimately, Seth said the "grand vision" is scaling the program to a national level, establishing a "pipeline of diverse talent" to serve the entire industry's needs.

Deal for San Francisco Office Building Spotlights Deep Discounting

August 10, 2023

"We have remained optimistic about the San Francisco office market and saw 60 Spear as a phenomenal opportunity in a prominent downtown location," Presidio Bay Managing Principal and Founder K. Cyrus Sanandaji said in a statement to CoStar News. "Though we acknowledge the formidable challenges that confront San Francisco, we have already witnessed substantial improvements in these areas and believe that a true urban renaissance is unfolding within the city."

Downtown SF office building sells for 66% less than assessed value

August 10, 2023

“We have remained optimistic about the San Francisco office market and saw 60 Spear as a phenomenal opportunity in a prominent downtown location that will attract quality tenants who are seeking a unique product,” K. Cyrus Sanandaji, founder and managing principal of Presidio Bay, said in a statement. “Though we acknowledge the formidable challenges that confront San Francisco, we have already witnessed substantial improvements in these areas and believe that a true urban renaissance is unfolding within the city.”

Presidio Bay Ventures Buys 157,000 SQFT 60 Spear in San Francisco for $41MM

August 9, 2023

In one of the most anticipated transactions in the City of San Francisco, sources have confirmed that a local development firm Presidio Bay Ventures, has been selected at the buyer of the 11-story, 157,436-square-foot 60 Spear property. The price on the acquisition is $41 million, or approximately $260 per square foot, according to public documents. The Registry reported in early July that the sale price was $45 million, which has been negotiated down since our earlier report.

Presidio Bay Ventures closes on 60 Spear office building in S.F.

August 9, 2023

Presidio Bay Ventures this week closed on a bid to purchase an 11-story office tower in San Francisco that Clarion Partners listed for sale earlier this year.

Cyrus Sanandaji, managing principal at Presidio Bay Ventures, told me in June that the firm is "continuing to focus on opportunistic deals downtown," where the Covid-19-fueled downturn has created no shortage of opportunities for those willing to bet on the area overcoming its current challenges.

Largest Commercial Developers in the Greater Bay Area

August 4, 2023

This List includes commercial developers with projects located in the Greater Bay Area, which is defined as Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano and Sonoma counties. Square footages pertain to Greater Bay Area development as of June 2023. “In the pipeline” is defined as projects in planning, proposed, approved or under construction. This list only includes developers whose primary business is real estate and real estate development and includes only commercial developments such as retail, office, multifamily, mixed-use, industrial, PDR and lab space uses.

A rare vegan bakery and more new Peninsula and South Bay restaurants

August 4, 2023

Burma Love, the sister restaurant of San Francisco’s beloved Burma Superstar, has opened its first Peninsula location. Located at Menlo Park development Springline, which is steadily filling up with restaurants and cafes, this location serves Burma Love’s tea leaf salad, curries and other popular dishes. The sleek dining room is decorated with a mural of Burma, a green velvet banquette and sparkly globe chandeliers. The full bar serves cocktails like the Last Harp in Bagan with strawberry gin, Luzhou Laojiao (a Chinese liquor), smoked strawberry, hibiscus and lapsang souchong tea.

This city is building a place for people to ‘emotionally experience’ S.F. So far, it’s a hit

August 3, 2023

In an email, Cyrus Sanandaji, managing principal at the company, emphasized the importance of cultural authenticity to the project.

“Silicon Valley’s vibrant tech-driven ecosystem has always been a magnet for global talent and forward-thinkers,” he wrote. “Yet, beneath its digital facade lies a rich tapestry of diverse individuals seeking authentic, community-centered experiences that often escape the fast-paced rhythm of their professional lives.”

Barebottle brings its locally inspired beers and natural wines to a new Menlo Park taproom

August 3, 2023

Behind the bar, customers can find over 20 of Barebottle’s beers on draft, ranging from light, crisp lagers to fruited sour ales and stiffer options like double IPAs and a barleywine. Nonalcoholic beverages, like sparkling hop water, a ginger-hibiscus soda and blueberry pomegranate kombucha — all made by Barebottle — are also available, as are Argentinian empanadas from San Francisco caterer Pampa BBQ. Customers can also bring their own food or even order pintxos and other Spanish-inspired fare from tapas restaurant Canteen, which will bring the food over to the taproom from its space next door.

Presidio Bay Summer Program Aims to Aid Real Estate’s Next Generation

August 1, 2023

This community-centric approach distinguishes Presidio Bay’s scholarship program, which the developer launched in 2021. Based in the Bay Area, Presidio Bay takes a hands-on approach to introduce students to commercial real estate — and provide industry access to students from underrepresented, underserved and marginalized communities. It’s one of the initiatives that have taken root since the industry-wide DEI reckoning in 2020, which highlighted the need for increased inclusion in the industry.

Exploring the Latest Trends in High-End Residential Amenities

July 28, 2023

In the heart of Silicon Valley, Springline is a 6.4-acre mixed-use development that prioritizes technology and innovation. As the world’s hotspot for tech companies and startups, Springline integrates advanced security measures with the K5-ASR autonomous robot by Knightscope. The robot patrols the property, ensuring the safety of residents and office tenants. This futuristic approach to security highlights how technology can shape the luxury living experience.

San Francisco’s Burma Love makes its debut at Menlo Park’s Springline development

July 26, 2023

Menlo Park’s growing Springline development has added a renowned San Francisco restaurant to its lineup of eateries: Burmese restaurant Burma Love, which opened July 19. The new establishment is Burma Love’s third Bay Area location and first restaurant on the Peninsula.

Presidio Bay Completes 193-Unit Ventana Residences in San Francisco

July 24, 2023

Presidio Bay, a leading, innovative Bay Area-based commercial real estate development and investment firm, announces the completion of Ventana Residences (99 Ocean Avenue), San Francisco’s biggest apartment complex to open in 2023 and the largest project built using the city’s innovative HOME-SF affordable housing initiative.

Burma Love and Barebottle are open at Springline in Menlo Park

July 21, 2023

An extension of Burma Love’s family of restaurants, the well-known San Francisco destination opened in Menlo Park at Springline on Wednesday (7/19). The restaurant, which will be open Sun.-Thurs. from 4:00-9:00 pm and Fri.-Sat. from 4:00-9:30 pm, will offer its famous Tea Leaf Salad (pictured), Samusa Soup, and Classic Mohinga along with seafood plates and exclusive bar menu which includes Burma Ale and specialty Burmese and Southeast Asian-inspired cocktails.

With taprooms across the Bay Area, Barebottle opened Thursday (7/20) at Springline. This location will offer its own roasted coffee, wine and — of course — home-brewed beer.

A running list of new restaurants, bars, and bakeries from San Francisco to Sacramento

July 18, 2023

Looks like the Springline development in Menlo Park is chugging along nicely, as its latest restaurants are set to open this weekend: Burmese restaurant Burma Love will open on Wednesday, July 19, while Barebottle Brewing Company opens on Thursday, July 20. It’s the latest round of openings for the complex, which will have as many as 11 different restaurants and cafes open by fall.

Spotted: Lamb sausage among the newer options at Canteen

July 7, 2023

Since Chef Greg Kuzia-Carmel of Camper fame opened Canteen in Menlo Park’s Springline Development in January, the menu has continued to expand.

There are still more than a dozen snacks/small bites available but a range of other larger options.

Favorites last night were the fried Half Moon Bay Brussel Sprouts and Gambrel’s Lamb Sausage served with sweet corn.

Presidio Bay Preps 2 Life Sciences Projects In Burgeoning San Carlos Market

July 6, 2023

Longtime Bay Area developer Presidio Bay Ventures is the latest player to get in on a growing trend of life sciences development in the small city of San Carlos, California, with a pair of projects underway: 777 Industrial, a 146K SF Class-A lab and office space, and 642 Quarry, a 472K SF, six-story research and development campus.

Leading San Francisco Developer Presidio Bay Ventures Brings New Energy to Silicon Valley with Springline, Setting An Example for Future Urban Developments

June 30, 2023

Springline’s Most Recent Updates Include:
Office: Springline was able to secure 100% leasing of their 2 Class-A (200,000 square feet) modern office buildings.
Residential: Springline is proud to be exceeding market expectations and is 86% leased.
Retail: Springline was able to command the attention of San Francisco’s most coveted restaurants like Che Fico Parco Menlo, Burma Love, and Robin. In May, Proper Food and Andytown Coffee Roasters opened their doors and these new locations are their first ones outside of the Bay Area. Burma Love, Barebottle Taproom, and Robin will open to a hungry community in the next few weeks. By Labor Day, all of Springline’s highly anticipated restaurants aside will be open with the exception of Mirame which will open in the fall.

Barre3 pop-up at Springline in Menlo Park on June 25

June 23, 2023

Come to the Plaza at Springline on Sunday, June 25 for a low impact, full-body workout that combines strength, cardio, and mindfulness from 9:30 to 10:30 am. This all-inclusive workout is perfect for beginners and experts alike. Admission is free and open to the public. Remember to bring your yoga mat!

12 new Bay Area restaurants we can’t wait to try this summer

June 15, 2023

Robin, a popular, upscale San Francisco sushi restaurant, is gearing up to debut a second location and its first outside of the city at Springline, a new development in Menlo Park. Robin will likely be one of the fanciest, and most expensive, restaurants at Springline, where San Francisco Italian favorite Che Fico is opening a casual spinoff this summer and popular cafe Andytown Coffee just arrived.

Retail-to-Life Science Conversions: How to Successfully Reposition Your Asset

June 14, 2023

“You’re starting to see a lot of those department stores, the big-box anchors, realize their business models have changed or been disrupted because of e-commerce,” says Sanandaji. “It’s inevitable that you’re going to need to reimagine what those shopping centers and those big-box stores look like.”

Try hyped-up pastries at this new bakery, plus more Peninsula and South Bay openings

June 9, 2023

A local, fast-growing Vietnamese restaurant opened a large new location. One of Korea’s biggest sweets chains picked the region for its U.S. debut. And a popular San Francisco coffee shop put down roots in an exciting Menlo Park development.

How one S.F. developer overcame the pandemic to go big in an unlikely neighborhood

May 23, 2023

“Between March and December of 2020, all the headlines were, ‘San Francisco is collapsing. Everyone is leaving. Rents are dropping 20%,” he said. “In that economy, we still had full faith in San Francisco’s ability to rebound. We are totally dedicated to solving the housing situation in the city.”

Proper Food opens Menlo Park location at Springline

May 16, 2023

Opening Proper Food at the Springline development in Menlo Park is a homecoming of sorts for owners Dana and Howard Bloom.

When Springline approached them to be part of the new development, they were struck by its innovative mix of residential, office and eateries.

“We believed it was a great location for making high quality food more accessible to both Menlo Park and the Stanford community,” Dana says.

Viewpoint: Is there a path forward in San Francisco’s self-inflicted housing crisis?

May 12, 2023

The solution is clear: Business should be championed and subsidized rather than demonized, a statement that will no doubt invite backlash from progressives. But this is reality: Employment and housing are intrinsically linked. Innovation and a rising economy produce jobs and tax revenues needed to build housing, especially affordable housing. As noted above, San Francisco cannot produce 82,069 housing units by 2031 on its own. The city cannot vilify tech companies, developers, investors, and lenders, and pursue anti-business policies that drive a corporate and talent exodus on the one hand, and expect new investment and housing production to achieve its Housing Element goals on the other.

Free Barre3 pop-up class at Springline on May 13

May 12, 2023

On Saturday, May 13 from 9:30 to 11:00 am, join Barre3 in The Plaza at Springline (1300 El Camino Real) for a low impact, full-body workout that combines strength, cardio, and mindfulness. This all-inclusive workout is perfect for beginners and experts alike.

Menlo Park: Proper Food brings its chef-designed takeout meals to new Springline complex

May 1, 2023

Proper Food has finally brought its “fresh take on takeaway” concept to the Peninsula, not far from the Stanford campus where the company’s founders met.

A grand opening will be held Tuesday at the new Menlo Park location at Springline on El Camino Real. Hours going forward will be 8 a.m. to 2:30 p.m. on weekdays.

Andytown Coffee, Proper Food are the latest eateries opening at Springline in Menlo Park

April 25, 2023

A grab-and-go food outpost by Proper Food and a Peninsula location of Andytown Coffee Roasters are the next two eateries in a spate of dining concepts coming to Menlo Park at Springline, a mixed-use development with 183 apartments plus retail and office spaces.

Earth Day related events at Springline on April 19 & 20

April 17, 2023

Grab some food from the food trucks and come create live moss art to brighten up your desk or home. In addition, there will be a Rivian and Envoy demonstration and Zero waste cleaning product company Greatfill will host a discussion on the brand’s sustainable mission in addition to offering a discount to residents.

Silicon Valley Development Transforms Suburb Into Bustling Mixed-Use Hub

March 31, 2023

"Obviously, there was a huge question, or series of questions, around what the future would look like, let alone the future of the office," Sanandaji previously said about the project. "We have been really focused on destination placemaking. You have to view the project more holistically and realize that from a placemaking-strategy perspective, having an incredible lineup of restaurants and bars and activation is really going to start driving meaningful increases in rent on the commercial side, on the office side and residential side."

New option for extended stays at Springline in Menlo Park

March 20, 2023

Have friends or relatives coming to visit for an extended time — and need to put them up somewhere other than your home? There’s a new option in town with the opening of Locale Menlo Park, which will manage 15 one-bedroom and two-bedroom residences at Springline.

The residences will feature a fully-equipped kitchen with coffee and tea, in-unit washer and dryer, free WiFi, and bath amenities.

Springline: Menlo Park’s New 6.4 Acre Development

March 14, 2023

Springline emphasizes innovative safety technology, and all residents use an app to unlock doors, contact room service, and turn lights on and off. Part-time resident Apryl Stern said, “The Springline team uses the app frequently to communicate with residents. Sometimes they let us know of upcoming events, or construction that might cause inconveniences. We can also use it to reserve several common spaces, or submit a maintenance request.”

Locale Hospitality Expands into California with the Opening of Locale Menlo Park at Springline

March 10, 2023

“Springline has already established itself as the future of Menlo Park and a world-class destination for the future of office, modern living, dining and entertainment,” said Kabir Seth, Principal at Presidio Bay. “Through Locale, we are adding another layer to our offerings by attracting modern travelers and renters seeking a more flexible alternative to traditional hotels and vacation rentals. We predict strong demand from both professionals and consumers who will no longer have to sacrifice their experience for convenience.”

Barre3 pop-up event at Springline on February 26

February 23, 2023

On Sunday, February 26, from 9:30 to 11:00 am, Barre3 Menlo Park is bringing its Menlo Park studio to The Plaza at Springline (1300 El Camino) for the community to enjoy a low-impact, full-body workout. Remember to bring your yoga mat!

Canteen is first restaurant to open in Menlo Park’s Springline

February 22, 2023

Chef Greg Kuzia-Carmel, who operates Camper in Menlo Park, recently opened Canteen at Springline, a 6.4-acre mixed-use development at 1300 El Camino Real. The first of several restaurants coming to Springline, Canteen will eventually be joined by Che Fico Italian restaurant and market, Burma Love, San Francisco’s Andytown Coffee Roasters and others.

Watch the Super Bowl outdoors at Springline on February 12

February 10, 2023

Super Bowl watching festivities include music, games, photo booth, food trucks, and more! The viewing takes place on Sunday, February 12, at Springline, 1300 El Camino Real, Menlo Park from 2:30 to 6:30 pm.

23 Most-Anticipated Bay Area Restaurant Openings of 2023

February 6, 2023

James Beard Award semifinalist David Nayfeld will take his San Francisco Italian dining destination Che Fico to Springline, the ambitious mixed-use development in Menlo Park. This spring, Mirame arrives in the Bay Area with an outpost at Springline set to bring dishes like salmon skin chicharones and a fermented tea leaf salad to the Silicon Valley.

This hot Bay Area development wants to be a dining destination. Its first restaurant opens this week

January 24, 2023

It’s a small space, with eight seats at a white marble bar, a single six-seat communal table and smaller tables in a shared lobby space (outdoor seating will come soon). When customers take a number for their orders, they’ll be stamped on a miniature, colorful surf fin. Rather than a full-service restaurant, the idea is “something a little bit more irreverent, fun and informal,” Kuzia-Carmel said.

Chef Greg Kuzia-Carmel’s Canteen opens in the Springline development in Menlo Park

January 24, 2023

“My goal for Canteen was to create a space that sets the bar high for casual, but carefully executed dining, while keeping the energy of the space young, welcoming and approachable,” said Chef Greg.

Life Sciences Real Estate’s Biggest Deals Of 2022

December 13, 2022

A host of new developments sprouted up in San Carlos, including a $190M deal earlier this year by Bentall GreenOak and Graymark Capital to buy up a biomanufacturing site. Others include the Alexandria District for Science and Technology, which leased up its first phase and will continue to grow, with a partnership between Premia Capital and Prince Street Partners planning a 174K SF life sciences project. Presidio Bay also has a second life sciences investment in the city, a $34M purchase of a redevelopment site for a future life sciences campus.

Initial Environmental Study Public For 642 Quarry Road, San Carlos, San Mateo County

November 23, 2022

The three-structure development will yield 643,890 square feet of floor area with 410,070 square feet of offices and 233,820 square feet for the ten-level garage. The 89-foot tall garage will have a capacity for 939 cars, while the rest of the property includes long-term parking for 141 bicycles.The project plans are flexible, with the possibility of shifting the ratio of offices to laboratory space from 1:3 to 3:1.

Barry’s Bootcamp Pop-up at Springline on November 20

November 18, 2022

Springline is hosting an outdoor Barry’s Bootcamp Pop-up this Sunday, November 20 from 9:30 to 10:30 am. Admission is free and open to the public. People can RSVP by emailing noelle@springline.com.

Dessert destinations: New cakes, patisserie and pastry-forward coffee shops abound

November 10, 2022

Canteen Coffee Shop, located inside the Springline development in downtown Menlo Park, has officially opened. The cafe, by Greg Kuzia Carmel, the chef behind Camper on Santa Cruz Avenue, is located inside CANOPY, a co-working office space at the new 6.4-acre housing, office and retail complex.

Presidio Bay Ventures- What’s Their Secret Sauce? A Conversation with Founder Cyrus Sanandaji

November 10, 2022

Welcome to NAIOP San Francisco Bay Area’s Podcast where we engage, deliberate and highlight the commercial real estate market and its leaders.

LISTEN HERE

The first restaurant at Menlo Park’s Springline development is now open

November 9, 2022

This Week’s San Francisco Deal Sheet

November 7, 2022

With Bay Area housing construction stalled, developers look to squeeze more units into existing projects

November 5, 2022

Cyrus Sanandaji, managing director of Presidio Bay Ventures, said his group took a serious look at the property, but eventually decided to take a pass. Their plan was to use the state density bonus to push the unit count to 400. While “the math worked” at the price they were willing to pay, the investor they were working with decided to pass “due to San Francisco’s inefficiencies.”

Presidio Bay Launches Multifamily Project in Outer Mission

November 4, 2022

“We are proud to develop a project of this scale that is also addressing the city’s housing shortage,” said Presidio Bay’s K. Cyrus Sanandaji. “We have worked to ensure that Ventana Residences will provide the community with a high-quality, socially activated and family-oriented offering that will inspire residents for generations to come.”

Presidio Bay Ventures Brings to Market Ventana Residences, 193-Unit Residential Property With Affordable Housing Component in San Francisco’s Outer Mission Neighborhood

November 2, 2022

“We are proud to develop a project of this scale that is also addressing the city’s housing shortage. Thanks to the City’s HOME-SF program, we were able to triple the number of new affordable units created in District 11 since 2009,” said K. Cyrus Sanandaji, Founder and Managing Principal, Presidio Bay Ventures. “At Presidio Bay, placemaking and wellness are at the forefront of our decision making. We have worked to ensure that Ventana Residences will provide the community with a high-quality, socially activated and family-oriented offering that will inspire interaction between residents and the neighborhood for generations to come.”

PRESIDIO BAY VENTURES BRINGS TO MARKET VENTANA RESIDENCES, 193-UNIT RESIDENTIAL PROPERTY WITH AFFORDABLE HOUSING COMPONENT IN SAN FRANCISCO’S OUTER MISSION NEIGHBORHOOD

November 2, 2022

Presidio Bay Ventures Talks With YIMBY About Ventana Residences In San Francisco

October 31, 2022

"It’s a really unique offering from an apartment standpoint in San Francisco, in that it’s both designed for the workforce and for families with a pretty sizable number of three-bedrooms and two-bedrooms.

It is the largest HOME-SF project entitled and built. The fact that we’ve taken absolutely zero government subsidy of any form, whether equity or tax credits or otherwise, and delivered a 25% affordable project, I think, is something we wouldn’t be able to pull off today."

Presidio Bay sells out 6-acre urban village in Downtown Menlo Park

October 27, 2022

Its offices have drawn tech, venture capital, finance and law tenants. They include Wells Fargo, which has been ditching offices and trying to sell a building in San Francisco, but leased 40,000 square feet for a new innovation group

Jackson Lucas Impact Real Estate Podcast with Kabir Seth

October 27, 2022

On this episode of the Jackson Lucas Impact Real Estate Podcast, we visit with an up-and-coming industry powerhouse and COO at Presidio Bay Kabir Seth. Kabir talks about his journey from Dubai to the Bay Area and how he fell into a career running a firm that designs, builds and operates a diverse set of product types.

LISTEN HERE

This new Silicon Valley development is fully leased, as other offices go vacant. Here’s why it’s so hot!

October 26, 2022

The quick office lease-up is a contrast to the overall trends on the Peninsula, which in the third quarter saw tenants give up 450,000 square feet more space than they leased. Nearly 17% of office space on the Peninsula is either vacant or available as sublease, according to CBRE.

Golden Acorn Awards will be celebrated virtually on October 27

October 25, 2022

The Menlo Park Chamber of Commerce will host the 45th annual Golden Acorn Award ceremony virtually on Thursday, October 27, at 5:00 pm. The keynote speaker is Cyrus Sanandaji, Founder, CEO and Managing Partner of Presidio Ventures, the organization behind the Springline development.

Exploring Redevelopment Opportunities Within Life Sciences

October 21, 2022

Sanandaji believes that certain submarkets such as San Carlos and Redwood City in California—two up-and-coming life sciences hubs—will perform exceptionally well given their walkability, amenity-rich surroundings and transit-oriented locations. “Locating projects in these types of submarkets, while emphasizing the human factor in our design, allows our tenants to thrive by maximizing recruitment, retention and productivity,” he said.

Money Talks: Presidio Bay Ventures on proptech’s ‘misplaced optimism’

October 17, 2022

K. Cyrus Sanandaji and Kabir Seth founded Presidio Bay as a real estate development firm in 2012, and have also been investing in startups for more than a decade. They were early investors in smart lock and building management company Latch (its stock has cratered more than 90% since its IPO, trading below $1 as of Monday) and failed co-living startup Starcity. They also consider the firm to be a product incubator and consults with startups — one of their former clients was WeLive, Adam Neumann's failed co-living extension of WeWork.

Money Talks: Presidio Bay Ventures on proptech’s ‘misplaced optimism’

October 17, 2022

We're doing acquisitions, we're designing, engineering, building, operating, dealing with investor relations. We really have our hands involved in every facet of the real estate industry, and by extension, the architecture, engineering construction world, as well. We realized that a lot of the products, a lot of the services, that existed weren’t quite at the level that we wanted them to be, or weren't satisfied with the status quo. So very early on in the history of the firm, we would come across entrepreneurs who had great ideas — well before “proptech” existed — and ended up getting us involved in venture investing.

Survey: SF has largest share of people eager to move

October 13, 2022

Presidio Bay Ventures founder K. Cyrus Sanandaji said the city’s social contract is broken – and took issue with San Francisco’s inability to rein in crime and homelessness.

Wells Fargo joins growing roster of tenants at Springline in Menlo Park

October 4, 2022

Wells Fargo Bank is the newest tenant at Presidio Bay Ventures' Springline mixed-use development in Menlo Park, which has attracted VC, tech and law firm tenants over the past year. The bank, which is headquartered in San Francisco and recently reduced its real estate holdings there, has committed to 40,000 square feet at the 100,000-square-foot North office building at 1300-1302 El Camino Real. It will open there in 2023.

GI Partners Pays $388M for Trio of Peninsula Life Science Assets

October 3, 2022

GI Partners continues its strategy of acquiring and managing tech and science real estate, purchasing a portfolio of three life sciences lab buildings in South San Francisco and San Carlos, CA. The company purchased the “Peninsula Lab Collection” from Alexandria Real Estate for a combined total of $388 million.

Bird’s eye view of Springline development in Menlo Park

September 29, 2022

Springline, the 6.4-acre development that intersects Oak Grove Avenue and El Camino in Menlo Park, combines 183 one-to-three bedroom residences with 200,000 square foot of office space and nine restaurants, which will open later this fall.

San Francisco Real Estate: 5 Huge Housing Projects That Beat Insane City Rules To Get Built

September 28, 2022

One of the goals of the project is to accommodate young families, who might otherwise struggle to find housing that can accommodate their need for more space, Kabir Seth, chief operations officer of Presidio Bay Ventures said. These families might otherwise have to leave the city.

Viewpoint: San Francisco’s social contract is broken. Can it be restored?

September 27, 2022

I have high hopes for our new District Attorney, Brooke Jenkins, who has vowed to restore accountability and consequences to our criminal justice system. “We are a city of second chances, but the truth is we have to draw a line with people who choose hate, violence and a life of crime,” Jenkins said at a recent press conference. I’m also encouraged by groups such as Stop Crime SF, which are working to improve public safety. But revitalizing San Francisco will require every elected official, every business owner, every resident to come together and renew our social contract and play a part in changing the course of this great city. We are bordering on the irrecoverable

These are the 11 most exciting Bay Area restaurants opening this fall

September 14, 2022

The first restaurant to open at Springline, a splashy, food-filled development in Menlo Park, will be Canteen, the second act from the chef behind popular and nearby restaurant Camper. The casual, all-day restaurant and wine bar from Greg Kuzia-Carmel will serve snacks like crispy chickpea panisse fries dipped in a habanero-tomato sauce, and raw oysters dressed simply with a smoked Meyer lemon and koji mignonette. To drink, there will be Californian and international wines, local beers and nonalcoholic options.

How Are CRE Diversity Promises Holding Up?

September 9, 2022

This approach ultimately resulted in Presidio Bay’s scholarship program, which launched in 2021 in conjunction with nonprofit Operation Genesis and provides underrepresented youths in California’s Bay Area with opportunities to learn about real estate. The program suggests that increasing diversity in CRE isn’t just about elevating voices at the top; sometimes it’s a matter of opening the door to begin with.

Sand Hill Road reckons with its future

August 20, 2022

Springline has so far signed five venture capital firms to its tenant roster ,one of which, Menlo Ventures, is shifting its headquarters there after spending over two decades on Sand Hill Road. Sanandaji believes the latter area’s lore has helped it overcome being an “amenities island” without dated, poorly insulated office structures that, among other shortcomings, aren’t in the most transit-friendly location. Presidio Bay’s project serves to “make the decision a relatively easy one for firms that realize there’s a significant advantage to being at Springline versus Sand Hill Road,” he said in April.

The Real Market with Chris Rising – Ep. 78 K. Cyrus Sanandaji

August 16, 2022

Get to know the story behind Presidio Bay and dive deeper into the market with Presidio Bay’s Founder and Managing Director, Cyrus Sanandaji.

LISTEN HERE

Burmese Superstar grows local empire with Hayes Valley sister concept

August 15, 2022

Burma Love has another 4,100-square-foot location expected to open this December in Menlo Park's high-end mixed-use project Springline, alongside a new restaurant and market from local Italian heavyweight Che Fico.

Mixed-Use Building Boom

August 3, 2022

“Springline is a lifestyle and a feeling that we’re evoking amongst all of our employers, employees, visitors, and residential tenants,” says K. Cyrus Sanandaji, CCIM, managing director and founder of Presidio Bay Ventures. The original site was a brownfield that involved a large assemblage of uses including an auto dealership and auto repair. Although the development was in the works for about six years, Presidio Bay Ventures took it over in early 2020 and reimagined the design. “We truly believe that this is the future of sustainable and responsible development in California and beyond, especially as you look at the impact traffic and commutes have on communities and cities,” says Sanandaji.

More CRE Firms Are Putting a Price on Their Climate Exposure

July 27, 2022

Presidio Bay’s K Cyrus Sanandaji, takes a broad-brush approach, choosing to sidestep more obviously vulnerable markets altogether. “I’m not particularly interedin developing Florida,” Sanandaji said. “Because, if we’re talking about 6 to 9 feet of sea level rise, almost the whole state is gone.”

Presidio Bay pays $34M for SIte of 410,000 SF of San Carlos Life Science

July 18, 2022

Presidio Bay Ventures has acquired a light industrial complex in San Carlos for $34 million that it intends to redevelop into a 410,000-square-foot life science campus, marking the developer’s largest bet on the sector in the Bay Area.

Presidio Bay Ventures pays $34MM for San Carlos Parcel

July 18, 2022

It has been a busy year for San Francisco-based Presidio Bay Ventures, and the company just spent $34million to acquire a 4.7-acre site in San Carlos at 642 Quarry Road.

Office Development on Track Across Bay Area

July 8, 2022

A single office property broke ground in May, in the Belmont-San Carlos submarket. Presidio Bay Ventures started work on a 147,000-square-foot R&D facility at 777 Industrial Road. The developer benefits from a $118 million construction loan from Square Mile Capital Management.

Menlo Park Mixed-Use Complex Adds Two New Tenants

July 7, 2022

Springline, a transit-oriented community of office space, residences and restaurants on El Camino Real in Menlo Park, CA has announced a pair of new tenants: litigation consulting firm Cornerstone Research and venture and growth equity company Norwest Venture Partners. The property is now 75% leased of the 200,000 square feet of office space.

Walkability as the Ultimate Amenity for Luxury Homebuyers

June 21, 2022

Fully opening next year, this 6.4-acre connected community has been expressly designed to be a walkable city within a city. Situated next to downtown Menlo Park and a short walk from the Caltrain Station, Springline features hospitality-driven homes, creative offices, destination restaurants and outdoor experiences in the heart of the Peninsula.

Redefining downtowns: How Peninsula cities have completely transformed their civic centers

June 17, 2022

Recognizing the changing nature of workplace culture due to the pandemic, Presidio Bay has restructured the project for the new era, incorporating more flexible and outdoor work spaces, enhancing HVAC systems to improve indoor air quality and conducting a "top to bottom" revision of the floor plans and architectural elements to allow multi-tenanting in the two commercial buildings, said K. Cyrus Sanandaji, managing director of Presidio Bay Ventures.

Presidio Bay Ventures Signs Two New Tenants To Menlo Park Mixed-Use

June 15, 2022

The property sits at 1300 and 1302 El Camino Real and 550 Oak Grove Ave. In addition to the retail and office space, it includes 183 apartments, which are in pre-leasing. Other tenants actively leasing the property now include restaurants Burma Love and Che Fico, and the law offices of Kilpatrick Townsend & Stockton LLP.

Springline in Menlo Park secures leases from Norwest Venture Partners and Cornerstone Research

June 14, 2022

Developer Presidio Bay Ventures announced it has leased 100% of the 29,000 square feet of retail space and 75% of the 200,000 square feet of office at the Springline project near the Menlo Park Caltrain stop.

Construction Topped Out For 99 Ocean Avenue, Balboa Park, San Francisco

June 7, 2022

The 65-foot structure contains 190,400 square feet, of which 153,800 square feet will be for residential use. 5,970 square feet will be made for a 75-student large Crayon Box preschool, and 26,000 square feet for 75 parking spaces. Unit sizes will vary, with 47 studios, 67 one-bedrooms, 57 two-bedrooms, and 22 three-bedrooms. Ventana will include 48 units of below-market-rate housing, roughly a quarter of all the housing.

9 highly anticipated Bay Area summer, fall restaurant openings

June 6, 2022

After drawing a loyal following to Menlo Park’s Camper for his seasonal entrees and fresh pasta, chef Greg Kuzia-Carmel (Quince, Cotogna, Per Se), will expand just about a mile away with not one but two culinary concepts at the upcoming Springline project.

Is it Price? Location? Or the “Gem” Amenity?

June 3, 2022

At the heart of the hip Menlo Park neighborhood, Springline is bringing residents modern luxury through their smart living amenity, the Springline App in partnership with Amenify. Springline’s DNA is focused on using the latest technology to maximize day-to-day efficiency and productivity as well as actively enhance the wellness of residents. Through the Springline App, residents will get sustainability reports which include data like indoor air quality, carbon offsets, and solar generation as well as book hospitality-driven services such as fitness classes, dog walking services, and food delivery.

Project Breaks Ground at 777 Industrial in San Carlos

May 27, 2022

“Presidio Bay Ventures is excited to break ground on 777 Industrial Road and bring a new wave of innovation to San Carlos,” Cyrus Sanandaji, founder and managing director for Presidio Bay Ventures, said in a press release. “Our team has seen an increased demand for tenant space as life science and R&D innovation in the Bay Area flourishes. 777 is purpose-built and thoughtfully curated to support breakthroughs across multiple industries beyond traditional life sciences.”

Presidio Bay Ventures Breaks Ground on Life Science Development at 777 Industrial Road in San Carlos

May 25, 2022

“Presidio Bay Ventures is excited to break ground on 777 Industrial Road and bring a new wave of innovation to San Carlos,” said K. Cyrus Sanandaji, Founder and Managing Director for Presidio Bay Ventures. “Our team has seen an increased demand for tenant space as life science and R&D innovation in the Bay Area flourishes. 777 is purpose-built and thoughtfully curated to support breakthroughs across multiple industries beyond traditional life sciences.”

Lauded upscale restaurant Mirame from Beverly Hills joining slate of high profile eateries at Springline in Menlo Park

May 24, 2022

The glitz and glamor of Beverly Hills’ Mírame, a “contemporary Mexican” restaurant by award-winning chef Joshua Gil, is joining the star-studded lineup of restaurants at Menlo Park’s Springline complex, according to the San Francisco Chronicle.

Buzzy Beverly Hills eatery Mirame is coming to Springline in Menlo Park

May 24, 2022

Acclaimed Beverly Hills restaurant Mirame is coming to the Springline development in Menlo Park as its latest and last retail tenant. With Mirame, Springline is now 100% leased on the retail side.

Trendy high-end Los Angeles Mexican restaurant Mirame to open second location in Menlo Park

May 23, 2022

Mirame, the acclaimed two-year-old Mexican restaurant in Beverly Hills from chef Joshua Gil, is readying a second, NorCal location — and it's going to be in the new Springline development in Menlo Park that has also lured SF's Che Fico and Burma Love to open new spots as well, along with Hayes Valley sushi spot Robin.

Acclaimed L.A. chef is bringing a luxe Mexican restaurant to the Bay Area

May 23, 2022

Mírame in Beverly Hills, which Eater LA critic Bill Esparza called "the most exciting new restaurant" to open in Los Angeles in 2020, will open a second location next year at Springline, a splashy, food-filled development in Menlo Park. Mírame is the final restaurant to move into Springline buildings at 1300 El Camino Real.

Presidio Bay Ventures Launches Real Estate Development Scholarship for Bay Area Yout, Introduces Underrepresented Backgrounds to Career Possibilities

May 17, 2022

Recognizing the lack of diversity and inclusion within the real estate industry, Presidio Bay fostered this program to proactively create opportunities for access, awareness and inclusion for diverse professional populations into this historically underrepresented field. The true-to-life curriculum is a first- of- its-kind model for underrepresented youth to gain professional experience and join an inspiring community of mentors and employers who are collectively promoting a more diverse and equitable future for the real estate industry.

Presidio Bay Ventures Begins $140MM Development of San Carlos Lab/R&D Project at 777 Industrial Road

May 12, 2022

Presidio Ventures believes that the San Carlos market for lab and R&D space will continue to strengthen over time. “The area has really no vacancies for lab space with much more tenant demand than there is space to accommodate companies. This is one reason why rents have continued to escalate significantly over the past 12 to 24 months,” said Sanandaji.

Menlo Park: Proper Food’s grab-and-go meals coming to Springline project

May 2, 2022

Proper Food, a restaurant group that offers chef-driven grab-and-go meals, salads, and sandwiches, will open its first suburban location this fall at Menlo Park's soon-to-open Springline project.

Presidio Bay places $118M spec bet with latest life science development on Peninsula

April 27, 2022

Presidio Bay not only expects to complete the four-story development at 777 Industrial Road in the fourth quarter of 2023 — it also anticipates having it at least partially leased to one or more tenants before it opens based on the life science sector’s “market dynamics,” Presidio Bay founder K. Cyrus Sanandaji told The Real Deal.

Presidio Bay Ventures Secures $118M for Bay Area Life Science Build

April 22, 2022

A partnership led by Presidio Bay Ventures has secured $118 million to develop a 150,000-square-foot class-A, R&D and life science lab building in San Carlos, California. Square Mile Capital Management originated the loan with financing arranged by Jeff Wilcox of Gantry.

Square Mile Capital Provides $118M in Development Financing for Life Sciences Development in San Carlos, California

April 21, 2022

SAN CARLOS, CALIF. — Square Mile Capital Management has originated a $118 million loan to finance the development of 777 Industrial Road, a planned R&D and life sciences lab building in the Bay Area city of San Carlos. The borrower is a partnership managed by Presidio Bay Ventures, which purchased the former car dealership site in 2020.

Square Mile Capital Provides $118 Million Construction Financing for Bay Are Life Science Development

April 20, 2022

Square Mile Capital Management LLC (“Square Mile Capital”) today announced that it has originated a $118 million loan to finance the development of 777 Industrial, a to-be-built ~150,000 square foot Class A, R&D and life science lab building located in San Carlos, CA.
Square Mile Capital provided the construction financing to a partnership managed by Presidio Bay Ventures, led by K. Cyrus Sanandaji and Kabir Seth, and an institutional joint venture equity partner.

‘Sand Hill Road 2.0’ doubles roster of office tenants

April 18, 2022

“Our opportunity was to come in and deliver a project that would make the decision a relatively easy one for firms that realize there’s a significant advantage to being at Springline versus Sand Hill Road,” Presidio Bay’s K. Cyrus Sanandaji said. “The firms that are looking at Springline are absolutely the firms that would have otherwise ended up on Sand Hill Road.”

Dying Silicon Valley mall is bought, life sciences conversion beckons

April 7, 2022

A veteran developer has bought a dying South Bay shopping mall, with plans to convert the big-box retail buildings in the center into spaces to entice life science, biotech and tech companies. Charleston Plaza, located in Mountain View and Palo Alto, has been purchased by Presidio Bay Ventures, according to documents filed on April 1 with the Santa Clara County Recorder’s Office.

Real Estate Deal: Developer creates ‘city within a city’ at Springline

April 1, 2022

Presidio Bay Ventures Announces 147,000 Square-Foot Life Science Development on 777 Industrial Road in San Carlos

April 1, 2022

Unanimously approved by the City of San Carlos in June of 2021, this development will serve as the gateway to the Innovation District, a multi-modal neighborhood of integrated existing and new businesses designed to offer a resilient and inclusive future, creating a new R&D and life science hub in the heart of the Peninsula. Envisioned as a departure from traditional life science buildings, 777 Industrial Road will enhance the Peninsula’s growing R&D and life science community. This real estate sector’s tremendous growth across the Bay Area since the COVID-19 pandemic created a timely opportunity for Presidio Bay to bring its innovative design vision, placemaking strategy.

SF developer pays $72M for struggling Silicon Valley shopping center, plans labs

March 31, 2022

Presidio Bay Ventures, a San Francisco firm developing lab projects in its home city and San Carlos, aims to further capitalize on the Bay Area’s booming life science sector through its purchase of a struggling shopping center in Silicon Valley.

San Francisco Developer Drops $72 Million on Retail Portfolio Purchase

March 31, 2022

The San Francisco developer behind one of Silicon Valley's most prominent mixed-use projects is expanding its foothold in the tech-concentrated region through a nearly $72 million purchase of a suburban retail center that has struggled to stay afloat throughout the pandemic.

Presidio Bay Closes $72 Mil Bay Area Retail Buy

March 31, 2022

San Francisco-based Presidio Bay closed on the purchase of Charleston Plaza, a five-building retail center totaling 132.6k sf of space in both Palo Alto and Mountain View, CA. The property, situated on an 11-acre site at 2400 – 2470 Charleston Rd, straddling the Palo Alto and Mountain View border in Silicon Valley, traded for $71.8 mil ($541/sf).

Nuveen Real Estate Sells Charleston Plaza Retail Center in Silicon Valley for $71.8M

March 31, 2022

PALO ALTO AND MOUNTAIN VIEW, CALIF. — Nuveen Real Estate has completed the disposition of Charleston Plaza, a five-building retail center in Palo Alto and Mountain View. San Francisco-based Presidio Bay acquired the asset for $71.8 million.

Retail Plaza on Peninsula Trades for $72M

March 31, 2022

Charleston Plaza has 132,590 square feet of restaurants, cafes and boutique shops, in addition to tenants like PetSmart, Starbucks and Chipotle across the Plaza’s 10.98-acre footprint. That acreage straddles to the two Bay Area cities.

Nuveen Real Estate Sells Charleston Plaza Retail Center in Silicon Valley for $71.8 Million

March 31, 2022

Nuveen Real Estate has completed the disposition of Charleston Plaza, a five-building retail center in Palo Alto and Mountain View. San Francisco-based Presidio Bay acquired the property for $71.8 million. Situated on 10.9 acres at 2400-2470 Charleston Road, Charleston Plaza features 132,590 square feet of retail space. Completed in 2006, the property features four big box retail buildings and one pad site.

Silicon Valley retail center sells for $71.8m

March 31, 2022

Charleston Plaza is located on a 10.98-acre site at 2400–2470 Charleston Road, straddling the Palo Alto and Mountain View border in Silicon Valley. The property is adjacent to Highway 101 a few miles south of downtown Palo Alto, Menlo Park and Stanford University. In addition, the property is complemented by an extensive amenity base, including restaurants, cafes and boutique shops that provide an urban suburban experience for nearby residents and shoppers at the center.

Mostly Empty Retail Center in Calif.’s Silicon Valley Sells for $71.8M

March 31, 2022

Presidio Bay has paid $71.8 million, or nearly $542/sf, for Charleston Plaza, a five-building retail center with 132,590 square feet that straddles the Palo Alto and Mountain View border.

Presidio Bay buys Peninsula shopping center Charleston Plaza for more than $70 million

March 30, 2022

Charleston Plaza, a shopping center straddling the border between Palo Alto and Mountain View, has sold for $71.8 million, according to a news release Wednesday from brokerage firm JLL.

Charleston Plaza in Mountain View Trades for $71.8MM

March 30, 2022

JLL represented the seller, Nuveen Real Estate, and procured the buyer, San Francisco-based investment and development firm, Presidio Bay. Charleston Plaza is located on a 10.98-acre site at 2400 – 2470 Charleston Rd., straddling the Palo Alto and Mountain View border in Silicon Valley. The property is adjacent to Highway 101 just a few miles south of downtown Palo Alto, Menlo Park and Stanford University.

Menlo Park’s Springline Will Bring Restaurants, Taproom to El Camino Real

March 29, 2022

The developer, Presidio Bay, hopes to create a new dining hub to appeal to prospective tenants of this project being billed as a Sand Hill Road 2.0 venture capital center. Most of the announced restaurants are San Francisco businesses expanding to Silicon Valley; one, Canteen, is a local product.

Menlo Park’s Springline Will Bring Restaurants, Taproom to El Camino Real

March 29, 2022

Menlo Park’s Springline Will Bring Restaurants, Taproom to El Camino Real

March 29, 2022

Now under construction on the Peninsula is Springline, a 6.4-acre, mixed-use project that will bring residences, offices, outdoor space, retail businesses — and lots of restaurants — to Menlo Park.

Changes at local restaurants plus dining experiences to come at Springline

March 25, 2022

Two new additions are coming to Springline, joining Che Fico, Burma Love, Barebottle, Andytown and Chef Greg’s Canteen Next Door.

Michelin-Worthy Omakase Counter Robin to Open Second Peninsula Outpost

March 22, 2022

Springline, billed by developer Presidio Bay Ventures as “Sand Hill Road 2.0,” expects to fully open in summer 2022. By recruiting recognizable San Francisco and Bay Area food and beverage businesses to the development, developers hope to create a new dining hub on the Peninsula.

Luxury Residential Buildings with Stunning Pet Amenities

March 22, 2022

Springline and The Glade will promote meaningful moments of connection with thoughtful dog meet-ups and collaborations with local pet brands.

Developer closes on San Carlos site approved for life sciences incubator

March 16, 2022

Developer closes on San Carlos site approved for life sciences incubator

March 16, 2022

San Francisco developer Presidio Bay Ventures snapped up a San Carlos Honda dealership at 777 Industrial Road with plans to transform the site into a 123,000-square-foot life sciences building. That project was approved in June. In the fourth quarter of 2021, San Mateo County led all Bay Area regions in terms of life science leasing with 666,164 square feet of gross absorption, according to a report by real estate service firm Kidder Mathews, which reported a 3.5% vacancy rate and 5.7 million square feet of tenant requirements.

Developer pays $20M for San Carlos site approved for life sciences project

March 16, 2022

Life sciences are booming in San Carlos. In June, a 123,000-square-foot life sciences building was approved for 777 Industrial Road on the site of a former San Carlos Honda dealership.

Presidio Bay Ventures Adds New Life Sciences Development on Peninsula

March 14, 2022

Life Sciences And R&D Center Proposed At 777 Industrial Road In San Carlos

March 3, 2022

The life sciences and R&D campus will span an area of 147,000 square feet. The campus will be exclusively listed for tenants by Cushman & Wakefield’s Marc Pope and Ben Parl. The development will serve as a gateway to Innovation District, a multi-modal neighborhood that integrates existing and new businesses designed to offer a resilient and inclusive future.

Presidio Bay Ventures Makes Progress on 147,000 SQFT Life Science Development in San Carlos

March 2, 2022

“With 777 Industrial Road, we’re proud to partner in planning with the City of San Carlos and showcase our long-term commitment to the broader community,” said K. Cyrus Sanandaji, Founder and Managing Director for Presidio Bay Ventures. “Presidio Bay’s 777 Industrial Road is in one of the fastest growing life science submarkets in the country, creating a rare opportunity for tenants with a highly amenitized lab facility and easy access to CalTrain, restaurants and services in the area,” said Marc Pope, Executive Managing Director for Cushman & Wakefield.

Walkability is the Ultimate Luxury Amenity for Homebuyers

February 12, 2022

When fully open summer 2022, Springline will be a connected community filled with creative offices, modern hospitality-driven residences, destination dining and outdoor experiences all centered on a culture of innovation, exploration and new encounters. Situated in the heart of the Peninsula, Springline was designed to be a walkable city within a city to live, work, think, play, conveniently located adjacent to downtown Menlo Park and steps from the Caltrain Station

Boichik Bagels, Manresa Bread and more head to Bay Area Peninsula

January 26, 2022

In nearby Menlo Park, a slew of big-name restaurants and cafes are anticipated to open at Springline, a mixed-use development at 1300 El Camino Real, as reported by the San Francisco Chronicle. Among them are San Francisco restaurants Burma Love, Che Fico and Barebottle Brewing Co., which are slated to open throughout 2022

New life science plan in San Carlos

January 25, 2022

Presidio Bay Ventures, the development firm behind the project, said in its proposal that the campus would bring “a unique opportunity to continue the vision of the East Side Innovation District by bringing additional commercial development opportunities, including life science projects, to north San Carlos.”

Presidio Bay Ventures Signs Several Tenants at Springline in Silicon Valley

January 24, 2022

Presidio Bay Ventures has secured several tenants at its Menlo Park development Springline, a 6.4-acre project that is scheduled to open later this year. The property features modern office space, restaurants and hotel-style residences.

A big Menlo Park project is finally nearing completion, and its commercial space is now mostly leased

January 21, 2022

"We continue to gain momentum with award-winning San Francisco dining staples and best-in-class companies at the top of their respective industries who are choosing to call Springline home," Presidio Bay’s Managing Partner Cyrus Sanandaji said in a press release.

SF restaurants Che Fico and Burma Love plan spinoffs in new Menlo Park development

January 21, 2022

It appears the often-overlooked city of Menlo Park is about to get a new dining destination, and it is sure to attract interest from foodies in Silicon Valley. A new, mixed-use development called Springline, now under construction at 1300 El Camino Real between Valparaiso Avenue and Oak Grove Avenue, has just announced several exciting tenants with San Francisco cred.

Sleepy Menlo Park is getting an influx of Bay Area restaurants like Che Fico and Burma Love

January 20, 2022

The sprawling Springline development just announced some of its food lineup, with lots of local heavy hitters

Silicon Valley’s Springline Unveils Robust Restaurant Line Up, Impressive Office Tenants, and Hotel-like Residences

January 20, 2022

6.4 Acre Menlo Park Mixed-Use Development by Presidio Bay Set to Fully Open This Summer as the Bay Area's Sought After Live, Work, Play Destination

Downtown Menlo Park development signs up notable San Francisco eateries as tenants

January 20, 2022

"Our vision to fully activate this development and solidify a future for downtown Menlo Park centered on sustainability, connectivity, culture and wellbeing has proven to be the right catalyst for our wish list tenants to come on board."

Kabir Seth, Chief Operating Officer at Presidio Bay

September 23, 2021

In this episode, we chat with Kabir Seth about how Presidio Bay is integrating technology throughout their development and operational processes to create efficiencies, better serve tenants and their own staff, and stay ahead of the competition.

LISTEN HERE

Menlo Park on the move: Downtown shakes off empty car lot blues

September 18, 2021

The project will include two 100,000-square foot office buildings and a residential building with 183 units of 1-, 2- and 3-bedrooms (including 20 units classified as affordable). Retail is located along the ground floors. There is also a two-level underground parking garage.

Transit-oriented developments springing up near Menlo Park’s Caltrain station

July 30, 2021

A number of new development projects are under construction or approved in Menlo Park. This article highlights Springline as one of the largest upcoming additions to the area.

San Carlos life science development approved

June 23, 2021

777 Industrial Road, a life science development, was approved for construction in San Carlos’ growing East Side Innovation District, receiving strong praise from the city’s Planning Commission for its design features and preservation of some of the existing building’s infrastructure.

Cyrus Sanandaji, Founder and Managing Director of Presidio Bay Ventures Joins Real Perspective Podcast

June 9, 2021

Cyrus Sanandaji joins Real Perspectives Podcast to talk about Presidio Bay Ventures' latest project in Menlo Park, Springline.

Cyrus Sanandaji, Founder and Managing Director of Presidio Bay

June 9, 2021

We speak in depth about Presidio Bay Ventures' latest project in Menlo Park, Springline, which the company took over in 2020 to re-envison its purpose and character.

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Bay Area Life Science Build Secures $400M Construction Loan

May 4, 2021

Other life science hubs in the Bay Area are also attracting new development. A joint venture between Presidio Bay Ventures and Kinship Capital acquired 777 Industrial Rd. with plans to redevelop the property into a 123,000-square-foot class-A life science building located within one of the Bay Area’s fastest growing life science clusters.

Largest Peninsula Construction Projects

April 16, 2021

Springline named in San Francisco Business Time's 'The List' for the Largest Peninsula Construction Projects.

Bye Forever to the Office. Hello, Drop-In ‘Collaboration Spaces’

March 19, 2021

The winning office of tomorrow, says K. Cyrus Sanandaji, founder at Presidio Bay Ventures, has “outdoor space, large intercommunicating stairs, modern mechanical equipment with enhanced filtration, touchless access controls.”

San Francisco’s New Launches: Buyers and Developers Are Thinking Bigger

March 17, 2021

Inspired by the industrial and cultural crossroads of San Francisco’s historic SoMa district, The Quinn’s boutique studios and one-, two- and three-bedroom condos strategically combine architecture and art by incorporating large specially commissioned murals by the artist KFiSH throughout the living spaces.

The First To Get Cut: The Case For Art’s Power In CRE

March 8, 2021

“When we talk about art being an integral part of the identity of the project and the design of the project in a truly holistic way, that's what we mean,” Sanandaji said. “The art, in this case, informed the whole building identity, the whole building design. And it was reciprocal in that sense. Every project is unique. It's an organic process. It's not something that we try to impose on a project in a clinical way. What makes the integration of art and architecture in our projects unique and interesting is this organic expression that evolves as the design evolves.”

“Home as Art”: San Francisco’s The Quinn Focuses Design Around Unique Relationship Between Art and Architecture

February 17, 2021

Together, KFiSH and Presidio Bay Ventures, along with RG Architecture, worked carefully on a concept for The Quinn’s design. The resulting scheme, dubbed “Controlled Chaos,” arose from the process KFiSH uses to produce his art.

Two New Tenants Will Call Springline Home

February 17, 2021

Presidio Bay Ventures has locked in its first two office tenants at Springline, the new 6.4-acre mixed-use development in Menlo Park. These include the sustainable workspace company, CANOPY, which will occupy approximately 20,000 square feet of the property at its southern office building, while Symphony Technology Group (STG), a private equity firm, will be relocating to new offices also at Springline’s South building.

Gantry Arranges $80 Million in Financing for Construction of 193-Unit Ventana Residences in San Francisco’s Mission Terrace Neighborhood

February 15, 2021

Gantry has secured an $80,000,000 construction loan on behalf of Presidio Bay Ventures for the development of the Ventana Residences in San Francisco. The 193-unit family-centric residential project sits on a 0.93 acre opportunity zone site at 99 Ocean Avenue in the Mission Terrace neighborhood.

Presidio Bay Ventures Secures $80 Mil in Construction Money for San Francisco Res Development

February 8, 2021

Presidio Bay Ventures has obtained $80 mil in construction money for the development of the Ventana Residences, a 193-unit, family-centric residential project in San Francisco.

A New Building Planned For 130 Townsend Street In South Beach, San Francisco

February 8, 2021

Development permits were submitted seeking the approval of constructing a five-level office building at 130 Townsend Street in South Beach, San Francisco. The project proposal includes a vertical addition to the existing structure featuring retail space on the ground floor and a new building that will allow for a five-level mixed-use building. The addition proposes 34,120 square feet of office space and 2,353 square feet of retail space on the ground floor. Presidio Bay Ventures is the project sponsor. Stanton Architecture is managing the design concept and construction.

Shovels Hit Ground On $120M Ventana Residences Following Funding Pivot

February 5, 2021

A new project now under construction is drastically accelerating the pipeline of affordable housing units in San Francisco's Excelsior neighborhood. A joint venture of Presidio Bay Ventures and American Realty Advisors ceremoniously broke ground in January on the Ventana Residences project at 99 Ocean Ave. after shifting gears for funding sources. The project, which will supply the area with 193 rental housing units, 48 of them below-market-rate, is poised to triple the number of affordable units created in the neighborhood over the next decade.

Canopy and Symphony Technology Group First Office Tenants in Menlo Park’s Springline

February 3, 2021

Presidio Bay Ventures (“Presidio Bay”), a leading California-based commercial real estate investment firm, today announced its first two office tenants at Springline, the new 6.4-acre mixed-use development located in the heart of Menlo Park, Calif. These include the upscale boutique, design-forward, and sustainable workspace company, CANOPY, which will occupy approximately 20,000 square feet of the property at its Southern office building, while Symphony Technology Group (STG), a private equity firm focused on fueling innovative software, data, and analytics market leaders in the mid-market, will be relocating to new offices also at Springline’s South building.

Springline Welcomes Canopy and Symphony Technology Group as First Office Tenants

February 2, 2021

“From the get-go, we’ve set out to make Springline a destination oasis where work and innovation can be inspired by a unique and distinctly inviting atmosphere. Now, as we welcome CANOPY and STG - two top-tier companies in their respective industries – we’re thrilled to see this placemaking strategy already come to life, particularly as we move towards the post-COVID-19 era,” said K. Cyrus Sanandaji, Managing Director for PresidioBay.

Big downtown Menlo Park project finally signs its first tenants

February 2, 2021

Seven months after taking over the largest downtown Menlo Park project in a decade, its new developer has done something its previous one couldn't — sign office tenants. Co-working company Canopy and private-equity firm Symphony Technology Group have signed leases at Presidio Bay Ventures' "Springline" development, the developer said Tuesday. Combined, the two Bay Area companies — the mixed-use project's first tenants — have leased about 41,000 square feet over two floors, Presidio Bay said in a statement.

Week in Review: Latch agrees to go SPAC at a $1.56B valuation, merging with real estate giant Tishman Speyer’s TS Innovation Acquisitions Corp

January 30, 2021

Latch, the makers of a keyless entry system for multifamily buildings, has agreed to reverse merge with Tishman Speyer's TS Innovation Acquisitions Corp.

Presidio Bay Ventures Scores $120M for San Francisco Project

January 27, 2021

Presidio Bay Ventures has closed on $120 million in construction financing to develop a mixed-income, 193-unit rental community in San Francisco.

Presidio Bay Closes on $120MM in Financing, Breaks Ground on Largest HOME-SF Project in San Francisco

January 27, 2021

Presidio Bay Ventures, a leading Bay Area commercial real estate development firm, has closed on $120 million in construction financing to develop the Ventana Residences located at 99 Ocean Avenue in San Francisco’s Outer Mission and Excelsior District.

Landlord-tenant partnerships could help spur CRE recovery in SF

Michelin Guide-Listed Sushi Sensation Robin Opens on the Peninsula With No Menu in Sight

Top S.F. sushi restaurant opens swanky new outpost

Presidio Bay Ventures Opens 6.4-Acre Springline Mixed-Use Development in Menlo Park, California

San Francisco Office Market Shows Signs of Life

Springline grand opening festivities take place from September 14-23

Here Are the Bay Area’s Most Anticipated Restaurant Openings of Fall 2023

GRAND OPENING – Menlo Park’s Springline Offers Experiential Community Events

Menlo’s Park Fall 2023 “Craft Cocktail Fair” (Springline Grand Opening)

Spotted: Pretty — and tasty — octopus at Canteen in Menlo Park

Another downtown office building sells at steep discount: ‘We believe in San Francisco’

City Approves 642 Quarry Road In San Carlos

Investment optimism in downtown San Francisco

10 eagerly anticipated Bay Area restaurants for summer/fall 2023

Presidio Bay Ventures buys office building in Downtown SF for $41M

Real estate developer bets big on San Francisco’s downtown

‘The recovery is absolutely starting’: Why one contrarian office investor is buying in downtown S.F.

San Carlos OKs life science plan

Wall Street Is Ready to Scoop Up Commercial Real Estate on the Cheap

Real estate firm Presidio Bay Ventures is working on plan to diversify the industry

Deal for San Francisco Office Building Spotlights Deep Discounting

Downtown SF office building sells for 66% less than assessed value

Presidio Bay Ventures Buys 157,000 SQFT 60 Spear in San Francisco for $41MM

Presidio Bay Ventures closes on 60 Spear office building in S.F.

Largest Commercial Developers in the Greater Bay Area

A rare vegan bakery and more new Peninsula and South Bay restaurants

This city is building a place for people to ‘emotionally experience’ S.F. So far, it’s a hit

Barebottle brings its locally inspired beers and natural wines to a new Menlo Park taproom

Presidio Bay Summer Program Aims to Aid Real Estate’s Next Generation

Exploring the Latest Trends in High-End Residential Amenities

San Francisco’s Burma Love makes its debut at Menlo Park’s Springline development

Presidio Bay Completes 193-Unit Ventana Residences in San Francisco

Burma Love and Barebottle are open at Springline in Menlo Park

A running list of new restaurants, bars, and bakeries from San Francisco to Sacramento

Spotted: Lamb sausage among the newer options at Canteen

Presidio Bay Preps 2 Life Sciences Projects In Burgeoning San Carlos Market

Leading San Francisco Developer Presidio Bay Ventures Brings New Energy to Silicon Valley with Springline, Setting An Example for Future Urban Developments

Barre3 pop-up at Springline in Menlo Park on June 25

12 new Bay Area restaurants we can’t wait to try this summer

Retail-to-Life Science Conversions: How to Successfully Reposition Your Asset

Try hyped-up pastries at this new bakery, plus more Peninsula and South Bay openings

How one S.F. developer overcame the pandemic to go big in an unlikely neighborhood

Proper Food opens Menlo Park location at Springline

Viewpoint: Is there a path forward in San Francisco’s self-inflicted housing crisis?

Free Barre3 pop-up class at Springline on May 13

Menlo Park: Proper Food brings its chef-designed takeout meals to new Springline complex

Andytown Coffee, Proper Food are the latest eateries opening at Springline in Menlo Park

Earth Day related events at Springline on April 19 & 20

Silicon Valley Development Transforms Suburb Into Bustling Mixed-Use Hub

New option for extended stays at Springline in Menlo Park

Springline: Menlo Park’s New 6.4 Acre Development

Locale Hospitality Expands into California with the Opening of Locale Menlo Park at Springline

Barre3 pop-up event at Springline on February 26

Canteen is first restaurant to open in Menlo Park’s Springline

Watch the Super Bowl outdoors at Springline on February 12

23 Most-Anticipated Bay Area Restaurant Openings of 2023

This hot Bay Area development wants to be a dining destination. Its first restaurant opens this week

Chef Greg Kuzia-Carmel’s Canteen opens in the Springline development in Menlo Park

Life Sciences Real Estate’s Biggest Deals Of 2022

Initial Environmental Study Public For 642 Quarry Road, San Carlos, San Mateo County

Barry’s Bootcamp Pop-up at Springline on November 20

Dessert destinations: New cakes, patisserie and pastry-forward coffee shops abound

Presidio Bay Ventures- What’s Their Secret Sauce? A Conversation with Founder Cyrus Sanandaji

The first restaurant at Menlo Park’s Springline development is now open

This Week’s San Francisco Deal Sheet

With Bay Area housing construction stalled, developers look to squeeze more units into existing projects

Presidio Bay Launches Multifamily Project in Outer Mission

Presidio Bay Ventures Brings to Market Ventana Residences, 193-Unit Residential Property With Affordable Housing Component in San Francisco’s Outer Mission Neighborhood

PRESIDIO BAY VENTURES BRINGS TO MARKET VENTANA RESIDENCES, 193-UNIT RESIDENTIAL PROPERTY WITH AFFORDABLE HOUSING COMPONENT IN SAN FRANCISCO’S OUTER MISSION NEIGHBORHOOD

Presidio Bay Ventures Talks With YIMBY About Ventana Residences In San Francisco

Presidio Bay sells out 6-acre urban village in Downtown Menlo Park

Jackson Lucas Impact Real Estate Podcast with Kabir Seth

This new Silicon Valley development is fully leased, as other offices go vacant. Here’s why it’s so hot!

Golden Acorn Awards will be celebrated virtually on October 27

Exploring Redevelopment Opportunities Within Life Sciences

Money Talks: Presidio Bay Ventures on proptech’s ‘misplaced optimism’

Money Talks: Presidio Bay Ventures on proptech’s ‘misplaced optimism’

Survey: SF has largest share of people eager to move

Wells Fargo joins growing roster of tenants at Springline in Menlo Park

GI Partners Pays $388M for Trio of Peninsula Life Science Assets