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Houston Investor Nabs San Mateo Office Park for $217M
Houston-based Hines acquired Clearview Business Park, a 379,219-square-foot, six-building Class A creative office campus in San Mateo, CA from Deutsche Asset & Wealth Management for $217 million. The property is located on a 22-acre bluff at 3000-3155 Clearview Way, in the heart of the San Francisco Peninsula.
Hines’ Cameron Falconer says, “Clearview Business Park is a high-quality asset in a strategic location. We are excited to add this property to the Hines portfolio, as we continue to grow in San Mateo and the Bay Area.”
The property is 100% leased to two tenants: GoPro, a world leader in high definition versatile cameras; and Tesla, a leader in electric and autonomous driving vehicles.
Deutsche acquired the asset, located between U.S. highway 101 and Interstate 280, for $125.5 million in 2014, and subsequently added a 107,700-square-foot building in partnership with Embarcadero Capital Partners.
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- ◦Sale/Acquisition


