JLL Capital Markets worked exclusively on behalf of Dewey Land Company and DivcoWest to capitalize the project through a joint venture partnership and construction loan.
JLL arranged $33.8 million in construction financing after arranging a joint venture equity partnership for the speculative development of 250 California, a 44,605-square-foot office property in Burlingame, Calif.
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 L
