Millbrae Life Sciences Campus Secures $310M Construction Loan
JLL Capital Markets has arranged a $310 million construction loan for the development of Avia Labs at Millbrae Station, a 315,000-square-foot life sciences campus at the Millbrae, CA Transit Center. The project will be the first all-electric life sciences development in California. JLL secured the loan through Otera Capital on behalf of the borrower, Longfellow Real Estate Partners.
“The Bay Area remains one of the crucial global hubs for life science innovation within our international portfolio,” commented Longfellow CEO Adam Sichol. “Avia Labs will not only provide top-quality lab and office space but reflect our commitment to environmental sustainability across our portfolio.”
Located on 2-acres at 210 Adrian Rd., Avia Labs consists of a six-story, Class A building targeting LEED Gold and Fitwel certifications. On-site amenities will include a fitness center, public café, large conference spaces, two levels of underground parking and a large terrace with city and mountain views.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.