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September 28, 2020
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Dewey Land Company and DivcoWest’s Spec Office Project in the Bay Area Lands $33.8 Mil in Financing


Dewey Land Company and DivcoWest are closer to starting work on 250 California, a spec, 44.6k sf office project in Burlingame, thanks to having just secured $33.8 mil in construction financing. The joint venture equity partnership was arranged by JLL Capital Markets.

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 and just minutes away from Highway 101 and State Routes 82 and 92. Additionally, 250 California is surrounded by a rich amenity base of restaurants and retailers and has direct access to the executive housing corridor off of Interstate 280 that includes Hillsborough, Woodside, Portola Valley and Los Altos Hills.

JLL’s Jordan Angel and Chris Gandy arranged the new financing, which also included a construction loan.

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