Historical Project Experience
The following projects represent selected historical development, asset management, and repositioning assignments completed by Embarcadero Advisors.
Status: Completed
Build-to-Suit Medical Office — 2710 Middlefield Road, Redwood City, CA
A 36,000-square-foot, three-story Class A medical office building developed for the County of San Mateo under a 30-year lease, securing a credit-quality income stream. Serving as fee developer, Embarcadero Advisors assessed a family-owned legacy property, identified an opportunity through a county RFQ, and procured 105% of development capital via bond financing—requiring zero additional sponsor equity beyond the original $5M land basis. The firm executed a lot split to support a local affordable housing initiative, managed the full ground-up development to LEED Silver certification, and positioned the asset for a successful exit at approximately $40M, an 8x return on sponsor equity.
Status: Completed
Single-Tenant Office — 110 Baytech Road, San Jose, CA
A 58,000-square-foot single-tenant R&D building in the Silicon Valley innovation corridor, valued at $18M and 100% leased to a credit tenant. Embarcadero Advisors provided full-lifecycle asset management from acquisition through occupancy—sourcing and negotiating the purchase, completing a legal lot split, structuring a full-building lease, securing favorable financing, and overseeing tenant improvements and operational implementation.
Status: Completed
The Hartford Insurance Building — 650 California Street, San Francisco, CA
A 33-story, 429,140-square-foot Class A office building valued at $253M, fully renovated floor by floor while remaining occupied across all 34 floors. Embarcadero Advisors directed the complete renovation—HVAC replacement, environmental remediation, code upgrades, and common-area modernization—culminating in LEED certification, and delivered an $8.5M lobby renovation for $6M through disciplined value engineering without compromising design. The firm directed all leasing and construction activity, oversaw property management, and coordinated the daily interface between active construction and ongoing building operations.
Status: Completed
Alexander Bell Plaza — 1835 & 1851 Alexander Bell Drive, Reston, VA
A 142,704-square-foot Class B suburban office complex valued at $26.5M, repositioned from underperforming to market-competitive. Embarcadero Advisors executed a comprehensive asset management strategy—securing bridge financing in challenging capital markets, installing a new management and leasing team, conducting a lease audit, and growing NOI through expense reduction and targeted leasing. The firm also led an office-to-residential conversion study, advancing the concept through architectural design, zoning analysis, feasibility, and capital stack structuring to fully evaluate the asset’s highest and best use.
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