Behind the Deal: EOP's San Mateo Sale
Equity Office's San Mateo Centre is off the market, having just been bought by Hines and Angelo Gordon. One of the execs in the partnership gave us more details.
The 217k SF, three-building office complex on a 9.8‐acre parcel at 1800-1820 Gateway traded for $325/SF—or nearly $71M—according to sources. Hines senior managing director Cameron Falconer, below at Bisnow's State of the Market event in January, tells us the San Mateo and Foster City office market is consistently strong and attracts a variety of high-quality users. This 86% leased campus is an option for tenants looking for a "cost-effective alternative" to S.F. and Silicon Valley.