Steve Meckfessel, president of SRM Associates (SRM), was one of two partners that developed an abandoned shipyard into Marina Village in the 1980s. The 205-acre mixed-use community won the prestigious Urban Land Institute Award in 1991 for its successful blend of housing, office buildings and waterfront park space.
PCCP and SRM have formed a joint venture to market and develop 75 acres of land at Alameda's Harbor Bay Business Park, a 1.9-milliopn sf project that is currently home to 82 companies, including Lucent Technology, COASTCOM, and Calypte Biomedical.
Scott Newman, vice president of SRM Associates, notes that the waterfront site offers dramatic San Francisco views and is adjacent to Oakland International Airport.
"The cross-airport parkway, under construction and nearly complete, will provide direct access to and from the airport and freeway," says Newman. "Furthermore, the land is fully entitled, and the backbone utility infrastructure is in place. It's ready to be built on."
According to PCCP and SRM, both companies have developed successful commercial and mixed-use projects in challenging times and remain undaunted by the instability of the Bay Area commercial real estate market.
"There is a lot of rental space available in the Bay Area right now, and users can negotiate attractive leases," Meckfessel says. "But for businesses interested in owning their space, the market is equally favorable, given the availability of capital at very lowinterest rates."
According to Newman, the multimillion dollar project will focus on a wide range of uses, from office and R&D to light industrial and light distribution.
As a measure of their commitment to this endeavor, SRM Associates willrelocate their corporate offices to the park, which will serve as theon-site marketing and development office. "This is a hands-on program,"says Newman. "We want our commitment to serve prospective users and thebroker community to be tangible."
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