David McLellan traded a parcel of land on Market Street in San Francisco for approximately 3,500 acres in Belmont, San Mateo, and Foster City that stretched from the railroad tracks on the west, to the Bay on the east, to the former Bay Meadows Race Track to the north, and the Ralston Avenue to the south. This land became the principal asset of the McLellan Estate Co. founded in 1932.
Before the 1960’s, parcels of land were periodically sold until the three grandsons, Hays, Wake, and Edgar decided to utilize the family land and build apartments. Under the guidance of Hays McLellan, an engineer and contractor, two large complexes were built on Crestview Avenue consisting of 220 units, followed by the 182 unit project at 707 Old County Road.
After the apartments were completed, the Company, managed by Hays and later his son Laureston McLellan, purchased approximately seven acres on Martin Avenue in Santa Clara where three industrial buildings totaling nearly 92,000 s.f. were developed and leased. The commercial portfolio grew as the Company expanded by purchasing 20 additional buildings in Northern and Southern California. Today, the McLellan Estate Co. is a thriving business managing its 553 tenants and adding to its diversified portfolio.