Burlingame Spec Office Development Advances with $34M Financing

Publication: Connect California

Dewey Land Company and DivcoWest received $33.8 million in construction financing for the speculative development of 250 California, a 44,605-square-foot office property in Burlingame, CA. JLL Capital Markets’ Jordan Angel and Chris Gandy arranged the financing, as well as a joint venture equity partnership between the developers.

Due for completion in 2022, 250 California will feature four stories of best-in-class office space, ground-floor retail and a three-level subterranean parking facility. The transit-oriented building has a premier location in downtown Burlingame, immediately adjacent to the Burlingame Caltrain station.

DivcoWest’s Chris Eldemir says, “250 California is an excellent, transit and amenity-friendly location which has already drawn a major VC tenant. We’re excited to have the opportunity to partner with our friends at Dewey Land Company, and look forward to delivering a high quality, boutique office building to the downtown Burlingame market.”