Redwood City, CA
TCC and CBRE Investment Management Break Ground on 234K-SF Life Sciences Development in Redwood City, California
July 20, 2023
Trammell Crow Company (TCC), a global commercial real estate developer, and JV partner CBRE Investment Management, on behalf of a separate account client, broke ground on a 234,000-square-foot life sciences development in Redwood City, California. Located at 200 Twin Dolphin Drive, the Class A facility is slated to deliver during the fourth quarter of 2024.
200 Twin Dolphin Drive will rise five stories and provide a campus environment with features that include outdoor terraces with water views, a rooftop deck, access to walking and biking trails, 101 Freeway signage and visibility, EV charging stations, and 100% outside air intake for elevated tenant health and wellness. The facility is targeting LEED Gold certification.
“We’re thrilled to be moving forward with construction at 200 Twin Dolphin Drive and making progress toward delivery of this state-of-the-art facility to Redwood City and the broader Peninsula Market. This area benefits from a deep talent pool and is home to leading technology and life science companies, which we believe will be a major draw for like-minded businesses looking to expand their footprint in Northern California,” said Ryan Payne, SVP with TCC.
Project partners include DGA, acting as the project’s architect of record, and Truebeck Construction as the General Contractor. The CBRE team of Mike Moran, Damon Schor, and Charlie Moran are handling the marketing and leasing of the property.
Adam Voelker, Principal and Market Leader for TCC’s San Francisco office, added, “TCC’s collaboration with the design and consultant team has resulted in a Class A life science building that will offer future tenants a unique campus environment. Our entire team is proud to be moving this innovative project forward.”
“Life sciences remains a high-conviction sector for us and we’re proud to partner with TCC to bring this modern, sustainable development to completion. We believe that this thoughtfully planned campus will benefit from its unique design, abundant amenities, and proximity to one of the top scientific innovation clusters in the world,” said Sondra Wenger, Head of Americas Commercial Operator Division for CBRE Investment Management.
About Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of March 31, 2023, TCC had $17.3 billion of projects in process and $13.1 billion in its pipeline. It employs 700 professionals in 27 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $148.9 billion in assets under management* as of March 31, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2022 revenue). CBRE has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.