SAN FRANCISCO –February 2, 2021 - Presidio Bay Ventures (“Presidio Bay”), a leading California-based commercial real estate investment firm, today announced its first two office tenants at Springline, the new 6.4-acre mixed-use development located in the heart of Menlo Park, Calif. These include the upscale boutique, design-forward, and sustainable workspace company, CANOPY, which will occupy approximately 20,000 square feet of the property at its Southern office building, while Symphony Technology Group (STG), a private equity firm focused on fueling innovative software, data, and analytics market leaders in the mid-market, will be relocating to new offices also at Springline’s South building.
“From the get-go, we’ve set out to make Springline a destination oasis where work and innovation can be inspired by a unique and distinctly inviting atmosphere. Now, as we welcome CANOPY and STG - two top-tier companies in their respective industries – we’re thrilled to see this placemaking strategy already come to life, particularly as we move towards the post-COVID-19 era,” said K. Cyrus Sanandaji, Managing Director for PresidioBay. “The addition of CANOPY and STG to Springline will go well-beyond a traditional office lease and touch many aspects of modern life at Springline, with plans for hosting events and a speaker series, as well as upcoming culinary partnerships, and beyond. As we continue discussions with other potential tenants and start to see even more thoughtful placemaking take shape, we couldn’t be more excited for what 2021 has in store.”
The office space at Springline consists of two 100,000 square foot Class A+ office buildings, Springline North and Springline South. Each state-of-the-art three-story building features a neutral design palate, including mixed-metals, raw wood, open-air architectural staircases, and high ceilings that provide an abundance of natural light from the surrounding floor-to-ceiling windows. Commuters will appreciate the subterranean parking, adjacent Caltrain station, and the walkable urban campus, which will be filled with day-to-night dining options, curated retail outlets, and outdoor escapes.
“When selecting new locations, it’s our goal to truly be integrated within the surrounding communities where our members live so that, by extension, we’ll be a part of their daily lives,” said CANOPY co-founder and designer, Yves Béhar. “As a destination with vibrant urban energy that has been purposefully planned to create an immersive place to live, work, and play, Springline’s mission is in full alignment with ours – and together, we hope to further inspire an experience where creativity and productivity flow freely with limited distractions. We’re excited to be opening our first location outside of San Francisco at Springline as we know our members will be equally drawn to the sense of community, as well as the thoughtfully designed workspaces here.”
“We are delighted to have found this unique opportunity to create an exciting new home where we will welcome our colleagues,” said Stephen Henkenmeier, Managing Director and CFO at STG. “It has been a pleasure to work with the team at Presidio Bay, whose objectives so clearly align with our own – including building an environmentally conscious space to grow our firm. At Springline, we will enjoy an environment where work and life will be seamlessly intertwined, offering our teammates more than an office, but a community supported by retail, restaurant, residential and garden areas, all in the heart of Menlo Park.”
This announcement comes as the world starts to look beyond COVID-19 and how life and the workplace will function moving forward. As one of the first major developments coming to completion in the Bay Area since the height of the pandemic, Springline has paid careful consideration to health and safety protocols for tenants, residents, and guests. Enhanced precautions include upgraded air filtration and disinfection for better indoor air quality, touchless features throughout the property, regimented cleanliness expectations, tech amenities to optimize social distancing, and trained property management to encourage and enforce standards.
“There’s no doubt that COVID-19 has made fundamental long-lasting changes to how we live and work, so it is vital that we acknowledge those changes and adapt as much as possible for our tenants and residents, and the public,” added Sanandaji. “As we start to make our way back to shared workspaces, we are proud to offer many enhanced amenities to CANOPY and STG as well as all of our future tenants, and hope that the added layers of safety provide some peace of mind for their members and employees.”
“On behalf of the Springline brokerage team we couldn’t be more excited to be involved in such a transformative and creative development project. Springline’s location speaks for itself but the vision and execution of the Presidio Bay team have set a new gold standard for Class A suburban projects,” added Michael Courson, Vice Chairman of Newmark.
For the latest on Springline, please visit www.springline.com.
For more information on Presidio Bay, please visit www.presidiobay.com.
For more information on CANOPY, please visit https://www.canopy.space.
For more information on STG, please visit https://stgpartners.com.
