The Peninsula Industrial Pros

Your Commercial Real Estate Source in the San Francisco Bay Area

Burlingame Office Trades for $18.7M

Comp Details:

Address:   1633 Bayshore Hwy, Burlingame, CA

Seller:    ATC Partners

Buyer:   Hanhai Investments, Inc.

RBA SF:  104,610

Lot size:  4.52 AC (196,891 SF)

Selling price:  $18,700,000 ($178.76/SF)

Type:  Class B Office

According to the buyers website:  Hanhai Investment established its first high-tech Silicon Valley incubator (Hanhai Z-Park) in 2012. Due to the consummation of Hanhai Z-Park, Hanhai Investment will continue its success in the Silicon Valley by establishing two more incubators by 2017, focusing on biopharmaceuticals, clean tech, and new materials.

It looks like this may be a strategic play for them to eventually take over the building for their own expansion purposes.  The building was 88% occupied at time of sale.

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This entry was posted on June 27, 2013 by in In the News, Office, Peninsula, Recent Sales, San Mateo County and tagged , .
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