A New Presence in Daly City

Kaiser Permanente signed one of the largest office deal thus far in the Bay Area. The Oakland-based HMO, hospital chain and doctor group, is expanding in Daly City, CA, with its pre-lease of the entire 160,000-square-foot office building, also known as Serramonte Corporate Center, at 395 Hickey Blvd. The 7-story, Class A office building is currently under construction due to be completed in September. Kaiser signed a 15-year deal valued at $88 million and will move in after tenant improvements have been completed sometime in January or February of next year. The new project is intended to ease the tremendous pressure on Kaiser’s already existing medical offices and hospitals located in the South San Francisco area. It will house expansions for adult medicine, women's services, as well as all of the ophthalmology services for the area. The new facility will include an on-site fitness and health center, covered parking, bay views and will also be linked to the in-process BART extension by a series of shuttles. San Mateo-based Dewey Land Co. and Palo-Alto-based CKAM are developing the property. Alameda-based MBH Architects designed the project. The general contractor is South Bay Construction. John Barsocchini and Bob Baumann with BT Commercial Real Estate in Burlingame represented the owner, King Asset Management. Kaiser Permanente was represented in-house.