{"id":1004639938,"date":"2023-01-18T05:00:55","date_gmt":"2023-01-18T13:00:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004639938"},"modified":"2023-01-18T05:00:57","modified_gmt":"2023-01-18T13:00:57","slug":"lane-partners-lands-373m-for-bay-area-life-science-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lane-partners-lands-373m-for-bay-area-life-science-project\/","title":{"rendered":"Lane Partners Lands $373M for Bay Area Life Science Project"},"content":{"rendered":"
\"\"<\/a>

Southline. Rendering courtesy of Square Mile Capital Management<\/p><\/div>\n

Lane Partners<\/strong> has received a $373 million financing package for the construction of the first phase of Southline, a mixed-use, life science project totaling roughly 3 million square feet in South San Francisco, Calif.<\/p>\n

Square Mile Capital Management<\/strong> originated the financing for the 370,000-square-foot development, while Bank OZK<\/strong> provided the senior portion of the loan. Managing Director Matt Haden of Eastdil Secured<\/strong>\u2019s San Francisco office arranged the transaction.<\/p>\n

The developer\u2019s investment partners for $1 billion project include Goldman Sachs Asset Management\u2019s Real Estate Group<\/strong> and an affiliate of Beacon Capital Partners<\/strong>. Site work began in the third quarter of 2022 and the transit-oriented campus is expected to welcome its first tenants by the end of 2024.<\/p>\n

According to CommercialEdge data, Lane Partners has a current pipeline of eight office properties in various stages of development in the San Francisco market, adding to a roughly 3.1 million-square-foot existing inventory.<\/p>\n

A state-of-the-art life science campus<\/h2>\n

Designed by DES Architects + Engineers<\/strong>\u00a0to achieve LEED Gold and Fitwel 2 Star certification standards, Southline is set to encompass seven six- to seven-story buildings with floorplates ranging from 45,000 to 100,000 square feet. Common-area amenities will feature a full-service restaurant, conference room, fitness and wellness center, coffee bar and gaming room, among others. The campus will also feature 7 acres of open space with a beer garden.<\/p>\n

The project’s first phase will feature six stories of lab and office space, as well as a six-story parking garage. Amenities will include a fitness center, restaurant, conference facilities and bike storage.<\/p>\n

\n

READ ALSO:<\/strong> MBH Architects on Trends in Bay Area Life Science Design<\/a><\/p>\n

\n

Phase One is taking shape on a 28.5-acre site at 30 Tanforan Ave., 11 miles from downtown San Francisco and only 4 miles from the San Francisco International Airport. The development is adjacent to the San Bruno BART station, as well as San Bruno Caltrain and South San Francisco Caltrain Station, offering tenants multiple commute options.<\/p>\n

The Bay Area, still a hot spot for life science development<\/h2>\n

In the last two quarters of 2022, several office and life science projects got green light from the local authorities\u00a0 across the Bay Area.<\/p>\n

In July, Transwestern Ventures and the City of Vacaville, Calif., announced plans to develop\u00a0a 390,000-square-foot biomanufacturing campus<\/a>. and received the Planning Commission’s approval<\/a> after less than 90 days. Set within the Vaca Valley Business Park, its location is in proximity to Sacramento, Calif. and San Francisco.<\/p>\n

In late 2022, Lincoln Property, in partnership with Dune Real Estate Partners, received approval to develop 777 Airport Boulevard<\/a>, a 13-story, 400,000-square-foot office building in Burlingame, Calif. The project is expected to generate more than $1 billion in economic activity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Square Mile Capital Management and Bank OZK provided the construction financing.<\/p>\n","protected":false},"author":2829,"featured_media":1004639939,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21742,21747,1609,15],"tags":[41597,34128,51776,44723,33318],"class_list":["post-1004639938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-latest","category-office","category-san-francisco","category-west","tag-bank-ozk","tag-beacon-capital-partners","tag-goldman-sachs-asset-management","tag-lane-partners","tag-square-mile-capital-management"],"acf":[],"yoast_head":"\nLane Partners Lands $373M for Bay Area Life Science Project - CPE<\/title>\n<meta name=\"description\" content=\"Lane Partners received $373 million in construction financing for the first phase of Southline, a 3 million-square-foot life science project.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lane-partners-lands-373m-for-bay-area-life-science-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lane Partners Lands $373M for Bay Area Life Science Project\" \/>\n<meta property=\"og:description\" content=\"Lane Partners received $373 million in construction financing for the first phase of Southline, a 3 million-square-foot life science project.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lane-partners-lands-373m-for-bay-area-life-science-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-18T13:00:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-18T13:00:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Southline-Rendering1-e1674041741750.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lane-partners-lands-373m-for-bay-area-life-science-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lane-partners-lands-373m-for-bay-area-life-science-project\/\",\"name\":\"Lane Partners Lands $373M for Bay Area Life Science Project - 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