Bay Meadows owner Stockbridge Capital and developer Wilson Meany broke ground this week on Station 3, the latest office building in the redevelopment of the former racetrack in San Mateo.
The 174k SF Class-A office building, located at 2850 S Delaware St, is next to Station 4, the 199k SF office building under construction and already entirely pre-leased by SurveyMonkey. SurveyMonkey will move into Station 4 in early 2017.
Companies are seeing that a proximity to transit and a vibrant, mixed-use environment help them recruit top talent, Wilson Meany partner Janice Thacher tells us. That's Janice, above, checking the progress at Station 4 earlier this year.
Station 3 (rendered above) and Station 4 are the first of five planned buildings totaling 780k SF of office space in the mixed-use development, which will incorporate 1,000 units of housing, 40k SF of retail and 18 acres of open space.
While SurveyMonkey snatched up all of Station 4, it remains to be seen whether Station 3 will nab a single tenant or multiple tenants. Janice says there are many different kinds of companies out there that are growing and in need of the type of space Bay Meadows offers. Whether tech or life sciences, she expects any company that values being part of a community and doesn't want an isolated campus experience would be a good fit.
SurveyMonkey was drawn to Station 4 by the design, which encourages employees to spend time in the community, says CFO and COO Tim Maly. It was important that the company be part of an urban campus, he says.
Construction on Station 3 is expected to take 21 months.
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