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May 24, 2018
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San Mateo County Mixed-Use Project Lands $145 Mil in Construction Money


The Bohannon Companies has obtained $145 mil in construction financing for a mixed-use project in Menlo Park. The loan, which will be secured by an eight-story, 210k sf office building, a 1,040-space parking structure and a 41k sf fitness center, was arranged by Square Mile Management LLC.

The project is part of the first phase of Menlo Gateway, a 16-acre master-planned development comprised of a 250-room Autograph Collection hotel currently under construction and a total of approximately 500k sf of office space to be built in phases.

The project is located at 100 Independence Dr, off the Marsh Road exit of US Route 101. Designed by Heller Manus, the office building capitalizes on the site’s excellent visibility from the highway, and is oriented to maximize southern exposure and natural light. The property is expected to achieve a high level of efficiency eligible for LEED Gold certification, and will include cutting-edge “green” features, including enhanced energy, water, air quality and lighting efficiencies.

The financing was arranged by John Kerslake and Briana Smith of NorthMarq Capital on behalf of The Bohannon companies, based out of San Mateo County.

Known as a hub for high technology, Menlo Park attracts many of the nation’s most prominent technology and venture capital firms, including Intuit, SRI International, TE Corporation, Andreessen Horowitz and Sequoia Capital. The city’s largest employer and landlord, Facebook, Inc., is headquartered just two miles east of the site and has aggressively expanded in the immediate area surrounding the project site.

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