Trammell Crow Company has successfully secured a $141.5 million equity commitment for their upcoming research and development campus in South San Francisco, as reported by the San Francisco Business Times. This achievement is noteworthy considering the current trend of investors pulling back from new life science projects.
The investment was approved by the Alaska Permanent Fund Corp., which is funded by Alaska’s oil and gas reserve revenues, during their fourth quarter meeting in 2023. The project will be located at 120 E. Grand Ave., spanning over 500,000 square feet with city approval obtained last May.
In an interview with the Business Times on Monday, APFC confirmed their commitment to this project at 120 E. Grand Ave.. Trammell Crow Company had acquired four parcels totaling approximately 3.5 acres for nearly $80 million last year to develop this site according to reports from the Business Times.
