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TCC Lines Up $142M Commitment from Alaska Fund for R&D Campus

Trammell Crow Company quietly lined up a $141.5-million equity commitment for a planned research and development campus in South San Francisco for which it has no tenant, reported the San Francisco Business Times. The win comes even as investors continue to back off from new life science projects.

The Alaska Permanent Fund Corp. approved the investment in TCC’s 500,000-square-foot campus project at 120 E. Grand Ave. in the fourth quarter of 2023, according to documents released as part of a Feb. 15 board meeting. TCC secured city approval for 120 E. Grand Ave. last May.

APFC, which is funded by Alaska’s oil and gas reserve revenues, confirmed its commitment to 120 E. Grand Monday to the Business Times. The developer spent nearly $80 million last year to acquire the four parcels that make up the roughly 3.5-acre 120 E. Grand site, the Business Times reported.

TCC’s Adam Voelker told the Business Times no groundbreaking date has been set.

Read More News Stories About: Trammell Crow
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TCC's Voelker

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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