Presidio Bay’s K. Cyrus Sanandaji, takes a broad-brush approach, choosing to sidestep more obviously vulnerable markets altogether. “I’m not particularly interested in developing Florida,” Sanandaji said. “Because, if we’re talking about 6 to 9 feet of sea level rise, almost that whole state is gone.” That’s not because he’s ignoring the issue. On the contrary. Sanandaji is active in the San Francisco Bay Area, and is integrating climate models into development plans, including Pier 70 in San Francisco.

It has been a busy year for San Francisco-based Presidio Bay Ventures, and the company just spent $34million to acquire a 4.7-acre site in San Carlos at 642 Quarry Road where

Presidio Bay Ventures has acquired a light industrial complex in San Carlos for $34 million that it intends to redevelop into a 410,000-square-foot life science campus, marking the developer’s largest bet on the sector in the Bay Area.

A single office property broke ground in May, in the Belmont-San Carlos submarket. Presidio Bay Ventures started work on a 147,000-square-foot R&D facility at 777 Industrial Road. The developer benefits from a $118 million construction loan from Square Mile Capital Management.

Springline, a transit-oriented community of office space, residences and restaurants on El Camino Real in Menlo Park, CA has announced a pair of new tenants: litigation consulting firm Cornerstone Research and venture and growth equity company Norwest Venture Partners. The property is now 75% leased of the 200,000 square feet of office space.

Fully opening next year, this 6.4-acre connected community has been expressly designed to be a walkable city within a city. Situated next to downtown Menlo Park and a short walk from the Caltrain Station, Springline features hospitality-driven homes, creative offices, destination restaurants and outdoor experiences in the heart of the Peninsula.

Recognizing the changing nature of workplace culture due to the pandemic, Presidio Bay has restructured the project for the new era, incorporating more flexible and outdoor work spaces, enhancing HVAC systems to improve indoor air quality and conducting a "top to bottom" revision of the floor plans and architectural elements to allow multi-tenanting in the two commercial buildings, said K. Cyrus Sanandaji, managing director of Presidio Bay Ventures.

The property sits at 1300 and 1302 El Camino Real and 550 Oak Grove Ave. In addition to the retail and office space, it includes 183 apartments, which are in pre-leasing. Other tenants actively leasing the property now include restaurants Burma Love and Che Fico, and the law offices of Kilpatrick Townsend & Stockton LLP.

Developer Presidio Bay Ventures announced it has leased 100% of the 29,000 square feet of retail space and 75% of the 200,000 square feet of office at the Springline project near the Menlo Park Caltrain stop.

The 65-foot structure contains 190,400 square feet, of which 153,800 square feet will be for residential use. 5,970 square feet will be made for a 75-student large Crayon Box preschool, and 26,000 square feet for 75 parking spaces. Unit sizes will vary, with 47 studios, 67 one-bedrooms, 57 two-bedrooms, and 22 three-bedrooms. Ventana will include 48 units of below-market-rate housing, roughly a quarter of all the housing.

After drawing a loyal following to Menlo Park’s Camper for his seasonal entrees and fresh pasta, chef Greg Kuzia-Carmel (Quince, Cotogna, Per Se), will expand just about a mile away with not one but two culinary concepts at the upcoming Springline project.

At the heart of the hip Menlo Park neighborhood, Springline is bringing residents modern luxury through their smart living amenity, the Springline App in partnership with Amenify. Springline’s DNA is focused on using the latest technology to maximize day-to-day efficiency and productivity as well as actively enhance the wellness of residents. Through the Springline App, residents will get sustainability reports which include data like indoor air quality, carbon offsets, and solar generation as well as book hospitality-driven services such as fitness classes, dog walking services, and food delivery.