Pacific Shores Center
Location | Redwood City, California |
---|---|
Address | 1700 Seaport Blvd, Redwood City, CA 94063 |
Coordinates | 37°30′42″N 122°12′10″W / 37.51153°N 122.20288°W |
Opening date | 2001 |
Developer | Jay Paul Company |
Construction cost | US$500,000,000 |
Owner | Informatica, Google, DivcoWest |
Architect | DES Architects + Engineers |
Size | 106 acres (43 ha) |
Parking | 4000 |
Website | www |
Pacific Shores Center is a high-tech business park located in Redwood City, California, adjacent to the Port of Redwood City.
History
The property that Pacific Shores Center was developed on had many uses through the years from part of the Redwood City Harbor Company to cement production to being part of saltworks with Leslie Salt.[1] In 1990 the Teachers' Retirement System of the State of Illinois bought 116 acres (47 ha) of land adjacent to the Port of Redwood City and Westpoint Slough and formed the Pacific Shores Center Partnership to develop it.[2][3] After many years of planning Redwood City and the partnership had a complete development agreement with plans for a land swap, that decreased the total property to 106 acres (43 ha), and public shore space to allow for public use of parts of the property.[4] In November 1999 Jay Paul Company entered into an agreement to buy the rights for the project by outbidding several other competing developers with a US$90,000,000 bid.[5] By early 2000 with the buildings not even complete; Excite@Home, Phone.com, Informatica Corp, and BroadVision Inc. had all signed leases. Demand at the time caused rent prices to increase for the center as well.[6] At this time there were plans for a ferry service to connect San Francisco and Alameda, California to an adjacent ferry terminal to mitigate traffic concerns at the time with so many of the expected workers to be projected commuting.[7]
By April 2002 the burst of the Dot-com bubble had decreased demand for office space and the center previously estimated to fill completely was sitting with a vacancy rate of 65%.[8] However fortunes changed and in late 2006 the campus was sold from Jay Paul to
Starwood Capital ran into issues with overdue debt in 2012 and brought in
Other
Pacific Shores Center is used more than just as an area for work. The facilities present include a 38,000 square feet (3,500 m2) fitness center that includes a gym, pool, and spa along with playing fields.[13] Public shore access allows for people to park and walk along the Westpoint Slough on a section of the San Francisco Bay Trail.[1]
The annual Stanford University Treeathlon triathlon competition is hosted in part at the center along with the Westpoint Harbor.[15]
Gallery
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See also
- Seaport Centre
- Redwood Shores
- Westpoint Harbor
References
- ^ a b San Francisco Bay Conservation and Development Commission (3 June 1994). "Review of Port Priority Use Areas and Marine Terminal Designations in the San Francisco Bay Area Seaport Plan" (PDF). Retrieved 6 March 2017.
- The Business Journals. Retrieved 6 March 2017.
- ^ "PACIFIC SHORES CENTER LIMITED PARTNERSHIP". OpenCorporates. 20 December 2016. Retrieved 6 March 2017.
- Redwood City (26 October 1998). "Development Agreement". Redwood City Documents. Retrieved 6 March 2017.
- The Business Journals. Retrieved 6 March 2017.
- The Business Journals. Retrieved 6 March 2017.
- SF Gate. Retrieved 8 March 2017.
- ^ Jimenez, Jorge (23 April 2002). "New Tenant at Pacific Shores". CoStar Group. Archived from the original on 12 March 2017. Retrieved 8 March 2017.
- ^ Conrad, Katherine (13 December 2006). "Pacific Shores Center sold for about $800M". East Bay Times. Retrieved 8 March 2017.
- SF Gate. Retrieved 8 March 2017.
- San Jose Mercury News. Retrieved 8 March 2017.
- ^ Sadovi, Maura Webber (29 February 2012). "Pacific Shores Positioning". The Wall Street Journal. Retrieved 8 March 2017.
- ^ a b Hui-yong Yu; Brian Womack (23 October 2014). "Google Grows With $1.6 Billion in California Office Deals". Bloomberg L.P. Retrieved 8 March 2017.
- The Business Journals. Retrieved 8 March 2017.
- ^ Laman, Anna (4 March 2016). "Triathlon team to host 700 competitors in 12th annual Treeathlon". The Stanford Daily. Retrieved 8 March 2017.