Premia Capital is stepping up its life sciences game.
The Redwood City developer filed an application with the city of San Carlos to redevelop warehouses on Howard Avenue at the intersection of Bayport Avenue, the San Francisco Business Times reported. The property, to be rebranded as 1021 Howard Avenue, would be a three-story building with 190,000 square feet of space for life science.
It would also include 13,000 square feet of public open space, including a plaza and an interior courtyard, as well as two levels of underground parking. Premia and Prince Street Partners bought the property in July for $33 million from Hamilton Investors Bayport, which is registered to R&M Properties.
Designed by Oakland-based architecture firm Brick Inc., it will feature “alternating balcony terraces” as well as brick, metal and wood finishes on the facade.
“The brick monolithic form is inspired by brickmaker William Hull’s contributions to San Carlos and the historic use of brick throughout many of San Carlos’ more iconic buildings,” Premia said in its application. “The use of steel is inspired by the industrial era — the development of the San Carlos railroad and aviation history.”
It’s across the street from another Premia’s property, the San Carlos Tech Center, which has 45,800 square feet of office, life science and industrial space, according to Premia’s website.
A third Premia project is a few blocks away. Brittan West, under construction at 1091 Industrial Road, will yield 174,000 square feet of life science space upon completion in 2023. Premia sold that property to the Florida State Board of Administration in July for $177 million, according to Commercial Property Executive.
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[SFBT] — Victoria Pruitt