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PCCP Provides $103M for Mountain View Development Pre-leased to Google
PCCP, LLC provided a $103 million senior loan to Renault & Handley Mid-Peninsula Joint Venture for development of 600 Clyde Ave. in Mountain View, CA. The property is fully pre-leased to Google, LLC, and encompasses a five-story, 189,974-square-foot state-of-the-art, LEED Platinum office building and an adjacent four-story parking structure on a 5.2-acre site.
PCCP’s Dorian Farhang says, “This loan provides PCCP with an ideal combination of best-in-market real estate product, robust Mountain View office market, and a long-term lease by a very strong credit tenant.”
The developer originally acquired the site in 1968 and subsequently developed two separate industrial/R&D buildings totaling roughly 75,000 square feet, which were demolished last year for this project. The new project will feature a 9,600-square-foot sky-deck with outdoor sitting and working stations, a fitness center, employee showers, and bike storage.
The fully-entitled project recently began construction, with completion and delivery anticipated for July 2020.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development


