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After 20 years of ownership, Black Mountain Properties has sold the San Carlos Business Park in San Carlos, CA to The Pillar Group out of Mountain View, CA for $61.1 million, or approximately $396 per square foot.
San Carlos Industrial Park is a seven-building, 154,462-square-foot office and research & development campus located along Industrial Rd. next to the fully entitled 528,520-square-foot Meridian 25 office development and a proposed Hilton Hotel.
Home to SEIU, Athens Chiropractic Clinic, California Fly Shop and Black Mountain, among others, the park sits on nine acres across two parcels. One parcel includes a ground lease for a 27,303-square-foot office building, while the larger parcel houses the six research & development facilities.