Stanford Plans 1.5 Million Square Feet Expansion in Redwood City

As Stanford finishes building its outpatient center in Redwood City this year, it is looking forward to adding additional density at the site. The clinic is scheduled to be completed in the coming 2-3 quarters and Stanford is already working on plans to expand the site beyond the outpatient clinic.

Stanford’s future plans for the site include an addition 1.5 Million square feet of administrative offices and 5,000 parking spaces on the remaining 33-acres. The plan is still several years out and the city still needs to go through zoning changes and entitlements. The first step is on August 12 when the university will seek city approval to have the city devote resources to study the change.

Stanford acquired the Mid-Point Technology Park in 2005 from the French lender Credit Lyonnais for roughly $145 Million (TMG Partners had a remaining minority interest in the project at the time as well). The project encompassed roughly 890,000 SF of buildings on 46-acres. TMG Partners acquired the 46-acres the site sits on in 1996 from Ampex Corp for roughly $36 Million and developed the 380,000 SF complex on a 13-acre portion of the site, which will now be home to the Stanford Outpatient center.

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