Former Google chairman and CEO Eric Schmidt has completed a Menlo Park, Calif., office development project.
Among the operations to move into the new building, Alma Station, are the Schmidt family's investment management company, Hillspire LLC; the Schmidt Family Foundation; and the Schmidt Ocean Institute, a nonprofit that supports oceanographic research and technology development.
Alma Station is a 25,000-square-foot, three-story class A office building featuring two levels of underground parking and a ground-level retail space that will be occupied by Saint Frank Coffee.
San Mateo, Calif.,–based Sares Regis Group served as development manager.
Schmidt and his wife Wendy, the president of the family foundation and a co-founder of the Schmidt Ocean Institute, purchased the fully entitled project from Lane Partners in 2016 in a deal valued at $11.5 million, reported San Francisco Business Journal.
