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Lane, Goldman Sachs Outline $1B S. San Francisco Development
Menlo Park, CA-based Lane Partners and Goldman Sachs envision a two-million-square-foot office or lab development rising on a 25-acre site in South San Francisco. The pair are reportedly close to submitting plans for the $1-billion project near the San Bruno BART Station and the Shops at Tanforan mall.
The development team has assembled multiple land parcels west of Highway 101, and outlined a development concept it believes will work. Currently, the bulk of the land is occupied by revenue-generating warehouses, which will allow the developer time to go through the approval process.
Lane Partners’ Marcus Gilmour told the San Francisco Business Times, “The fact that this project is so close to public transportation, it reduces some market risk. Even if the market does go through a downturn, we’re confident we can execute our development plan because of the location.”
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