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Presidio Bay, Kinship JV Plans Life Science Conversion in San Carlos

San Francisco-based Presidio Bay Ventures, in a joint venture with Kinship Capital, acquired 777 Industrial Rd. in San Carlos. The JV plans to redevelop the property into a 123,000-square-foot Class A life science building with high quality materials and cutting-edge functionality.

Presidio Bay Ventures’ K. Cyrus Sanandaji says, “We’ve seen tremendous growth and opportunity in the life sciences sector, which has only accelerated through the COVID-19 pandemic with renewed investment into research and development. In particular, San Carlos has garnered momentum in the space in recent years with its East Side Innovation District Plan and several new or under development biotech campuses.”

Currently home to a 45,000-square-foot car dealership and surface parking lot, the existing infrastructure was already designed to withstand significant loads. The design vision is to include a vertical addition to create a three-story building over parking at grade level. The developer anticipates breaking ground Q4 2021.

Kidder Matthews’ Michael Jensen represented the undisclosed seller.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
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