News
ON THE BLOCK
October 5, 2011
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| Looking to shore up your portfolio? Shorenstein Properties has put two trophy assets on the market: 1400 and 1500 Seaport Blvd in Redwood City. Totaling nearly 448k SF, the properties are 100% NNN leased to Abbott Laboratories through December 2021. (DreamWorks Animation SKG subleases a majority portion of 1400 Seaport as its NorCal campus). Jones Lang LaSalle’s capital markets team was selected to sell the properties. But unlike Demi Moore and Ashton Kutcher, this pair can’t be split up—the five-story buildings must be purchased together. They were completed in 2002 as part of the 1.7M SF Pacific Shores Center, and purchased by Shorenstein in 2007 on behalf of an investment fund. |
