(Save the date: RealShare Apartments comes to the Westin Bonaventure, Los Angeles, October 24.)

MOUNTAIN VIEW, CA-SRGNC CRES LLC, a division of Sares Regis Group of Northern California, has filed with the City to begin the process of repositioning and entitling a new one-million-square-foot office campus on 24 acres off Highway 237 at West Maude Ave. and East Middlefield Rd. here. The existing four-building campus on the site has 400,000 square feet of office space that is fully leased to Synopsys, which will be relocating when its lease terminates in 2015.

“We are exploring the redevelopment opportunities available in the Silicon Valley market,” says Jeff Birdwell, president of commercial development at SRG. “This property presents a fantastic redevelopment opportunity to provide a large-scale, transit-oriented campus in a prime location.”

Birdwell adds that we are at a unique point in time where certain large office users in the technology sector are forecasting near-term growth and have a need for contiguous space, which is driving demand for this type of opportunity.

Phil Mahoney and Jack Troedson with Cornish & Carey’s San Jose office will be one of the teams working with SRGNC to create a plan for the Maude campus. According to SRGNC, the City of Mountain View is in the process of updating its general plan and has re-designated the campus area for high-intensity office use that allows for more dense use than is currently on the site. The City expects to adopt the new general plan this summer.

SRGNC could not be reached by GlobeSt.com before deadline to discuss the specific ideas the developers have for this project or the estimated construction costs.

“The existing campus was built in the early 1980s and needs major renovations to remain competitive in the current office market,” says Birdwell. “This is a challenging and exciting assignment for our team. We will investigate the many options available to identify the repositioning opportunities and redevelopment scenarios available.”

SRG has been active in the California market this year. As GlobeSt.com reported earlier this month, the AFL-CIO Building Investment Trust has contracted with SRGNC to develop 155 luxury apartments at 888 N. San Mateo Dr. in San Mateo. The $68.9 million development will offer residents such amenities as an outdoor pool and playground, along with a dog park, fitness center, and underground parking. Also, in February SRG has started construction on Pacific Pointe, a collection of seven corporate-headquarters industrial buildings totaling 677,142 square feet for sale or for lease at Douglas Park, a master-planned development in Long Beach, CA, next to Long Beach Airport. When completed this summer, the buildings will range from 33,455 to 170,673 square feet. And in January the company broke ground on Township, a luxury apartment community in Redwood City, CA, consisting of a four-story building with 132 luxury rental units ranging from 630 square feet to 1,200 square feet. At the time, SRGNC told GlobeSt.com that construction cost is approximately $40 million.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.