March 11, 2019 – HFF announces that it has arranged $91.7 million in financing for the development of Lawrence Station, a five-story, Class A spec office building in Santa Clara, California.
HFF worked on behalf of the developer, Bayview Development Group, to secure the three-year construction loan through Broad Street Real Estate Credit Partners III (BSRECP III), a fund managed by the Goldman Sachs Merchant Banking Division.
Lawrence Station will consist of 173,474 rentable square feet of Class A office space along with a neighboring parking garage. The project is located at 3607 Kifer Road on the corner of Lawrence Expressway, which offers unparalleled visibility between U.S. Highway 101 and State Route 82. The project’s Silicon Valley location positions it near numerous high-profile corporations, including Apple, Google, Microsoft and Intuitive Surgical. Future tenants will benefit from the project’s proximity to the Lawrence Caltrain Station and expanding retail offerings in the surrounding area. Lawrence Station is due for completion in 2020.
The HFF debt placement team representing the borrower consisted of senior managing director Charles Halladay, senior directors Brandon Roth and Ben Bullock and analyst Taylor Gimian.
“Lawrence Station is an exceptional office development site,” Roth said. “Future tenants are going to benefit from the unique combination of being just a five-minute walk from Caltrain while remaining within the city limits of Santa Clara, which will allow them to access Silicon Valley Power so they will be able to save 35 percent on their energy costs.”