Boston-based Beacon Capital Partners and Menlo Park-based Menlo Equities recently announced the groundbreaking of a new life sciences building in one of the fastest-growing life sciences clusters in the Bay Area.

Upon its completion in 2024, the project will offer unparalleled access, visibility, and prominence within the broader San Carlos Innovation District. Located at 405 Industrial Road alongside Highway 101 in San Carlos, Calif., the facility intends to deliver 240,000 square feet of new San Mateo office and life sciences space. Dubbed Portal 405, the project is conveniently located within walking distance of the San Carlos Caltrain Station and the wealth of amenities in downtown San Carlos.

Designed for flexibility, Portal 405 is right-sized for a single-tenant headquarters, but its expansive floorplates and flexible core can also accommodate an assortment of multiple tenants. From the bottom to the top, the project design includes two levels of subterranean parking, two levels of above-grade parking, and four occupiable lab and office floors that will be accessible through a ground-level lobby. Also in the lobby, tenants will find bike storage; restrooms with showers and lockers; and tenant amenity areas that can accommodate a fitness center and a café.

Additionally, the rooftop terrace above the sixth floor faces west and is protected from wind and highway noise to provide a viable outdoor work and event space that offers premier views of the San Francisco Bay to the east, as well as downtown San Carlos.

“We believe in the strength of this location and the continued growth of the life science sector here,” said Steve Purpura, president of life sciences at Beacon Capital Partners. “We are excited to begin construction on Portal 405 and create a new home for innovation by leading life science companies.”

“San Carlos is an important and prominent life science hub, and we look forward to complementing the existing ecosystem with a new, state-of-the-art facility that will attract forward-thinking life science users,” said Rick Holmstrom, managing partner of Menlo Equities.

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