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5/08/20
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IQHQ has purchased nearly two acres located at 580 Dubuque Ave – currently known as South City Station – in South San Francisco.The property, south of Oyster Point Blvd and adjacent to the 101 Fwy, was sold by Republic Metropolitan.
The property is in the process of being entitled for a 213k sf development. It is located immediately adjacent to the future South San Francisco Caltrain Station expected to open in spring of 2021 and will connect from San Jose into Downtown San Francisco. The site is also near the San Francisco International Airport.
Ben Paul with Cushman & Wakefield represented both parties in the transaction. A price was not immediately disclosed. Paul and Mike Moran, also with C&W, were retained for the leasing assignment.
“The San Francisco Peninsula real estate market remains a global leader for the life sciences industry and has maintained superior market fundamentals even during these painful times amidst the pandemic,” said Paul. “This site provides a unique opportunity for IQHQ to develop a Class A facility of scale at the South City train station within walking distance to brand new residential and the burgeoning downtown.” Ben Paul and Mike Moran of Cushman & Wakefield will be retained for the leasing assignment.
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