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| 400 South El Camino Real, Downtown San Mateo, CA |
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| Stevem Golubchik |
SAN FRANCISCO, CA – HFF announced today that it has closed
the sale of 400 South El Camino
Real, a 14-story, 145,986-square-foot, Class A office property in downtown
San Mateo, California.
HFF
represented the seller, Equity Office Properties in this transaction. Romel Enterprises, LLC purchased the asset
for an undisclosed amount free and clear of debt. Romel’s real estate portfolio primarily consists of Class A
properties throughout the country, and the firm will continue to seek these ‘institutional-quality’
assets.
Originally completed in 1973, 400 South El Camino Real was renovated in
2003 and is 91 percent leased to tenants including UBS, Chicago Title
Insurance/Fidelity National Title Group, TD Ameritrade, ZS Associates and the
U.S. Army.
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| Michael Leggett |
The property also features a six-story, 254-space parking
structure and 360 degree views of the Peninsula and San Francisco Bay.
Situated in downtown
San Mateo, 400 South El Camino Real is within walking distance of the San Mateo
Caltrain Station and close to US Highway 101, Interstate 280 and State Highway
92 providing access to San Francisco and Silicon Valley.
The HFF investment sales team representing the seller was
led by managing director Steven Golubchik, senior managing director and
co-head of HFF’s national office investment sales platform Michael Leggett
and director John Simerlein.
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| John Simerlein |
“This property has a prime location in downtown San Mateo,
which continues to see strong demand from tenants looking for office space in walkable
and amenity-rich locations with access to Caltrain,” said Golubchik.
“Historically, 400 South El Camino Real has
outperformed both San Mateo City and County, posting substantially higher
average occupancy levels and rental rates.”
Equity Office Properties is one of the largest and most
well-respected commercial real estate firms in the nation, with a portfolio
encompassing 70 million square feet of Class A office space under management in
superior locations throughout the country.
For more information, visit www.equityoffice.com.
For a complete copy of the company’s news release, please
contact
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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