The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
October 18, 2017
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Bridge Office Fund Buys 267k sf San Mateo Office Campus

9/08/17

A fund managed by Bridge Office Fund Manager LLC has purchased a three-building, 267k sf office campus in San Mateo from BRE Alameda Property Owner LLC. The price was not disclosed.

The property, which has been awarded LEED Gold status, includes: 900 Alameda de las Pulgas (four stories, 99k sf); 1950 Alameda de las Pulgas (two stories, 22.3k sf); and 2000 Alameda de las Pulgas (two stories, 147k sf). Currently 98% occupied, tenants include the County of San Mateo, California Casualty and a diverse mix of smaller tenants.

Bridge, an affiliate of Bridge Investment Group LLC, plans to invest more than $7.6 mil in renovations as part of a repositioning initiative that will include a new name for the property, located at 1900-2000 Alameda de las Pulgas.

The capital improvement program will create modern collaborative common areas, new lobbies and a tenant lounge, as well as upgrading the dining options, the fitness center and building exteriors, with many of the significant improvements focused on Building 1900. Previous renovations created a modern conference center and improved atriums and landscaping throughout the campus.

The property is located directly off of Hwy 92 and less than two miles from US-101, providing tenants convenient access to San Francisco to the north and the major hubs of Silicon Valley. As rental rates continue to spike in northern Silicon Valley and San Francisco, San Mateo continues to experience heightened demand.

“This office campus offers an excellent location in the Mid-Peninsula market between San Francisco and Silicon Valley while providing tenants high-quality space at more competitive rates than some of the Bay Area’s other high-profile markets,” said Jeff Shaw, Principal with Bridge Office Manager and CEO of Bridge Commercial Real Estate, the office operating subsidiary of Bridge Investment Group. “Our comprehensive capital improvement plan will significantly enhance the property’s amenities and we expect to maintain high occupancy levels in the campus’s three buildings.”

The Mid-Peninsula office market totals approximately 21 msf of space and is home to numerous high-profile tenants, including Oracle, Facebook, Google and Intuit. The strong local economy is highlighted by steady job growth and an unemployment rate that has dipped to a 16-year low of less than 3%.

Will Connors, Michel Seifer, Daniel Renz, Erik Doyle, Rob Hielscher and Cheri Pierce with Jones Lang LaSalle represented the owner in the property sale. Josh Rowell with Newmark Cornish Carey will market the property for lease.




Return to the previous page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2017 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media