University Circle

East Palo Alto, CA
Date:Jan 08, 2014

University Circle

This mixed-use development on 12.5 acres at the intersection of Highway 101 and University Avenue consists of three 6-story office buildings totally 465,000 sq. ft., 15,000 sq. ft. of retail, a Four Seasons Hotel all above an 1,820 vehicle parking podium. More than 150 homes, 40-plus businesses, and 12 non-profit agencies were relocated or acquired in order to commence the development of the project. The project was delivered at the outset of the dot-com downturn and one full building tenant, a high-profile bay area law firm, went bankrupt. From this point, SRM directly took over leasing responsibilities, making nearly every deal in the market. The $220 million project was sold for a then record price of $665 per sq. ft. in 2005.