Mírame in Beverly Hills, which Eater LA critic Bill Esparza called "the most exciting new restaurant" to open in Los Angeles in 2020, will open a second location next year at Springline, a splashy, food-filled development in Menlo Park. Mírame is the final restaurant to move into Springline buildings at 1300 El Camino Real.

Presidio Ventures believes that the San Carlos market for lab and R&D space will continue to strengthen over time. “The area has really no vacancies for lab space with much more tenant demand than there is space to accommodate companies. This is one reason why rents have continued to escalate significantly over the past 12 to 24 months,” said Sanandaji.

Proper Food, a restaurant group that offers chef-driven grab-and-go meals, salads, and sandwiches, will open its first suburban location this fall at Menlo Park's soon-to-open Springline project.

Presidio Bay not only expects to complete the four-story development at 777 Industrial Road in the fourth quarter of 2023 — it also anticipates having it at least partially leased to one or more tenants before it opens based on the life science sector’s “market dynamics,” Presidio Bay founder K. Cyrus Sanandaji told The Real Deal.

A partnership led by Presidio Bay Ventures has secured $118 million to develop a 150,000-square-foot class-A, R&D and life science lab building in San Carlos, California. Square Mile Capital Management originated the loan with financing arranged by Jeff Wilcox of Gantry.

SAN CARLOS, CALIF. — Square Mile Capital Management has originated a $118 million loan to finance the development of 777 Industrial Road, a planned R&D and life sciences lab building in the Bay Area city of San Carlos. The borrower is a partnership managed by Presidio Bay Ventures, which purchased the former car dealership site in 2020.

“Our opportunity was to come in and deliver a project that would make the decision a relatively easy one for firms that realize there’s a significant advantage to being at Springline versus Sand Hill Road,” Presidio Bay’s K. Cyrus Sanandaji said. “The firms that are looking at Springline are absolutely the firms that would have otherwise ended up on Sand Hill Road.”

A dying South Bay shopping mall has been bought by a veteran developer that aims to convert the big-box retail buildings in the center into spaces to entice, life science, biotech and tech companies. San Francisco-based Presidio Bay Ventures, acting through an affiliate, paid $71.8 million for Charleston Plaza, whose addresses include 2400 E. Charleston Road in Mountain View, the county property records show.

Presidio Bay Ventures breathed new life into this mixed-use development in downtown Menlo Park, taking it over in 2020 and steering the first phase to completion. The project includes 200,000 square feet of Class A office space in two buildings — delivered last year — 183 residential units, ground-floor retail, and underground parking for 942 vehicles. The office space is half leased to six tenants, while the retail space is 91% leased.

Presidio Bay has paid $71.8 million, or nearly $542/sf, for Charleston Plaza, a five-building retail center with 132,590 square feet that straddles the Palo Alto and Mountain View border.

Charleston Plaza is located on a 10.98-acre site at 2400–2470 Charleston Road, straddling the Palo Alto and Mountain View border in Silicon Valley. The property is adjacent to Highway 101 a few miles south of downtown Palo Alto, Menlo Park and Stanford University. In addition, the property is complemented by an extensive amenity base, including restaurants, cafes and boutique shops that provide an urban suburban experience for nearby residents and shoppers at the center.

San Francisco-based Presidio Bay closed on the purchase of Charleston Plaza, a five-building retail center totaling 132.6k sf of space in both Palo Alto and Mountain View, CA. The property, situated on an 11-acre site at 2400 – 2470 Charleston Rd, straddling the Palo Alto and Mountain View border in Silicon Valley, traded for $71.8 mil ($541/sf).