The county’s plan to auction off two office towers to the highest bidder later this month will move one step closer to reality Monday when the San Carlos Planning Commission is expected to agree that the sale conforms with its general plan.
One and Two Circle Star Way, known collectively as Circle Star Plaza, sits primarily in the city of San Carlos which is why any land decisions by the county must also be vetted by its officials. At Monday night’s Planning Commission meeting, city staff recommend the members adopt a resolution finding the sale of the four-story office buildings and the three-story parking garage, which sits partially in the city, conform to its city plan. If the commission does not, the county cannot dispose of the parcels.
The buildings, which were purchased for $40 million 2011 as a way to relocate departments and 911 dispatch, will be auctioned for a minimum sealed bid of $85.5 million at the May 20 Board of Supervisors meeting. After buying the buildings, the county’s space needs downsized and officials learned that making them seismically compliant would cost more than building an entirely new facility. Instead, the county leased first one and then both towers to SoftBank, a telecommunication and mobile company which owns a majority of Sprint Nextel. In 2013, county officials began mulling a sale.
The current use conforms to the San Carlos general plan’s blueprint for its industrial area and the sale does too because the guiding principle is to “provide for a vibrant, diverse and sustainable economy that provides a range of employment and generates sufficient revenue to maintain high quality city services,” according to the city staff report.
The San Carlos Planning Commission meets Monday, May 5 at City Hall, 600 Elm St., San Carlos.