SamTrans's new Millbrae headquarters is covered by a lease-to-buy arrangement valued at $126 million. The building, Gateway at Millbrae Station, is at 166 N. Rollins Road.
A board item posted by the agency's official account on X said Peter Chao, SamTrans's Director of Real Estate, was slated to brief the board on moving forward with the $126 million acquisition and financing it through tax-exempt bonds secured by sales tax revenues, according to SamTrans
SamTrans had scheduled a public 50th-anniversary celebration at that same building for September 26, 2026, an event Hoodline previously covered when the agency announced plans for an open house at its new Millbrae home base. That earlier coverage noted the lease-to-buy arrangement was valued at $126 million.
A Building With a Long Paper Trail
The property's path to becoming SamTrans headquarters stretches back years. The office component was leased to SamTrans in December. Swift Real Estate Partners later acquired the property.
According to The Registry Northern California Real Estate, Swift Real Estate Partners acquired the 180,161-square-foot office and retail building for $47.7 million, with plans to push total capital investment past $100 million.
Why SamTrans Left San Carlos
SamTrans's previous headquarters was in San Carlos. The agency determined in 2023 that retrofitting the aging building to meet modern seismic and office standards would cost more than the building itself was worth, according to SamTrans's own planning documents.
The Gateway at Millbrae Station building sits within a 9.6-acre transit-oriented development built on BART-owned land under a 99-year ground lease, combining 157,000 square feet of office space, 43,400 square feet of retail, 400 residential apartments, and a 164-room hotel, per The Real Deal. Under SamTrans's original acquisition plan, the district designated roughly 105,000 square feet for its own staff while leaving about 52,000 square feet of office space and 23,000 square feet of retail available to sublease, a structure meant to offset costs.
How the Purchase Would Be Financed
SamTrans intends to finance the $126 million acquisition with tax-exempt bonds backed by sales tax revenues.
A Hub for Four Transit Systems
The building's location adds strategic weight to the deal. Millbrae Station is a transit hub serving Caltrain, BART, and SamTrans.
