SAN FRANCISCO-Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Lowe Enterprises has received approval from the City of San Mateo Planning Commission for the development of a three-story, 107,696-square-foot class A office building at the 22-acre Clearview Business Park in San Mateo.
While Low Enterprises couldn't disclose any pricing information to GlobeSt.com at this time, the project will begin with the demolition of an existing building at the site and the addition of a new, five-level, 655-space parking structure. Construction of the parking structure is anticipated to begin in the fourth quarter of 2013 with the start of the office building construction planned for the second quarter of 2014.
Clearview currently consists of 270,000 square feet in six buildings and is 100% leased to a roster of media, green building and tech industry tenants including Akamai Technologies, GoPro and Solar City. Lowe Enterprises also maintains an office at Clearview.
Lowe Enterprises established its first Northern California office in 1990 and has been an active investor and developer of commercial real estate throughout the region, according to a prepared statement. Lowe is currently in the planning phase of the 1.8 million square foot North First Campus, a nine-building class A office project to be developed on a 43-acre site in San Jose.
Clearview Business Park is centrally located between the San Francisco and San Jose International Airports offering easy access to Highway 92, 101 and I-280 and public transportation systems. It offers an attractive business environment with beautifully landscaped outdoor gathering areas and expansive bay and mountain views, according to a prepared statement.
Lowe Enterprises owns Clearview Business Park in partnership with O'Connor Capital Partners and Pearlmark Real Estate Partners. The property was vacant when Lowe and its partners acquired the former San Mateo Executive Park in May 2007.
Lowe immediately completed a comprehensive $20 million program to modernize the campus to class A standards, according to the statement. Five of the existing buildings were upgraded with significant work on exterior finishes, altering roofs to improve views and increase natural light, and a major upgrade of all building systems. The lobbies and elevators were refurbished and street improvements were made.
Clearview Business Park is within walking distance of a number of amenities including the Laurelwood Shopping Center and the College of San Mateo's community-oriented fitness and aquatic training facility, which is adjacent to the project.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
