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December 9, 2019
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BAY AREA NEWS
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Santa Clara Office Project Funded with $92 Mil in Construction Money

3/12/19

Bayview Development Group has secured $91.7 mil in financing for the development of Lawrence Station, a five-story, Class A spec office project in Santa Clara. The construction loan was arranged by HFF and funded through Broad Street Real Estate Credit Partners III (BSRECP III), a fund managed by the Goldman Sachs Merchant Banking Division.

Lawrence Station will consist of 173.5k sf of Class A office space along with a neighboring parking garage. The project is located at 3607 Kifer Rd, on the corner of Lawrence Expressway, which offers unparalleled visibility between U.S. Highway 101 and State Route 82. The project’s Silicon Valley location positions it near numerous high-profile corporations, including Apple, Google, Microsoft and Intuitive Surgical.

Future tenants will benefit from the project’s proximity to the Lawrence Caltrain Station and expanding retail offerings in the surrounding area. Lawrence Station is due for completion in 2020.

HFF’s Charles Halladay, Brandon Roth, Ben Bullock and Taylor Gimian arranged the three-year loan. According to Roth, future tenants will benefit from the unique combination of being just a five-minute walk from Caltrain while remaining within the city limits of Santa Clara, which will allow them to access Silicon Valley Power, so they will be able to save 35 percent on their energy costs.






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