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12/23/25
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DivcoWest has acquired 1991 Broadway, a three-story, 66k sf boutique office building in the heart of downtown Redwood City. The property was purchased from an owner-user in an off-market transaction. The price was not given out.
Simultaneous with closing, DivcoWest executed a 45k sf, long-term lease with Paul Hastings, a global law firm that will serve as the anchor tenant for the building. With this lease, the building will be 82% leased to three tenants at the time of closing.
1991 Broadway is situated at the east end of downtown Redwood City’s pedestrian-friendly retail corridor and is a short walk from the Caltrain station. The building also has immediate vehicle access to Highway 101 and is served by city, county, and regional transit.
“1991 Broadway is uniquely positioned within a downtown market where leasing momentum has strengthened significantly year-to-date, as dynamic companies take advantage of the opportunity to scale in a transit-friendly submarket complete with high-quality housing options and a wide range of amenities,” commented Gregg Walker, President of DivcoWest Real Estate Asset Management.
Ham Southworth, Ken Rapp, and Morgan Griffith of CBRE represented Paul Hastings in lease negotiations. Ben Paul of Cushman repped DivcoWest.
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