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June 20, 2024
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Bay Area Industrial Facility Attracts $424/sf Price


Stephen Finn of Finn Capital purchased a 129.8k sf industrial facility in Burlingame for $55 mil ($424/sf). Built in 1957, the single-story structure is located at 1649 Adrian Rd, southeast of Millbrae Ave and adjacent to the 101 Fwy.

1649 Adrian Road is a low-coverage, highly visible industrial asset with over 645 feet of frontage along Hwy 101 and an exit away from the San Francisco International Airport. Due to its transit-oriented location, the site is acutely positioned for a last-mile logistics facility or future redevelopment. Tenants also have access to the Millbrae BART located less than a mile north.

The total site area is 6.61 acres, or 287.0k sf. At the time of the sale, the building was 100% leased to Lahlouh Inc, an end-to-end communications management services company based in Burlingame, which has been a tenant since 1996.

Colliers’ Tim Maas, Mike Davis, Tony Crossley and Darren Kuiper marketed the property on behalf of the seller, who had owned the property for several years.

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