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| Burlingame Bay Office Park, 555 Airport Boulevard, Burlingame, CA |
EMERYVILLE,
CA – EverWest Real Estate
Investors, in partnership with global private markets
investor Partners Group (on behalf of its clients), has completed the purchase
of Burlingame Bay Office Park, adding yet another landmark office asset to its
Northern California portfolio.
The
two-building, Class A Burlingame Bay Office Park totals almost 13 acres and
261,959 square feet at 555 and 557 Airport Blvd. in Burlingame, California.
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| Burlingame Bay Office Park, 557 Airport Boulevard, Burlingame, CA |
Building
sizes range from 120,681 to 139,413 square feet – and five to eight stories –
respectively. Both buildings are visible from Highway 101/Bayshore Freeway and
sit along the west side of the San Francisco Bay, offering immediate views of
the East Bay and San Francisco.
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| Ryan Madson |
Managing
Director Ryan Madson directed the property acquisition on behalf of
EverWest.
“The
North Peninsula office market is enjoying exceptional conditions, with overall
vacancy at just 6 percent and strong and broad tenant demand that will continue
to benefit well-located, high-profile projects like Burlingame Bay Office Park,”
said Madson, who oversees EverWest’s Northern California and Pacific Northwest
acquisition activity.
“We are very pleased to add this asset to our
portfolio, and believe we can add even more value through capital improvements
and lease-up in the months and years ahead.”
The
Burlingame acquisition marks the latest in EverWest’s consistent Northern
California Bay Area portfolio growth. This push was punctuated last fall with
the purchase of another high profile asset: the Offices at Public Market, which
totals 109,242 square feet in eight stories facing I-80 in Emeryville,
California. Last month, EverWest also completed the acquisition of a
16,000-square-foot creative office building at in downtown San Francisco.
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| Josh Rowell |
Burlingame
Bay Office Park sits adjacent to a Hilton DoubleTree hotel, the Hilton San
Francisco Airport Bayfront hotel and numerous restaurants. It is also minutes
from San Francisco International Airport and less than 30 minutes from downtown
San Francisco, Palo Alto and Mountain View.
Josh
Rowell, Craig Kalinowski and Dan Matteucci with Newmark
Knight Frank serve as the project’s exclusive leasing brokers.
For more information, please contact:
Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195
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