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SC Properties Acquires Value-Add San Mateo Office Campus
SC Properties, a San Mateo-based real estate investment, brokerage and property management company, acquired San Mateo Gateway Center, a 235,000-square-foot Class A office campus. Consisting of three midrise office buildings located at 1800, 1810 and 1820 Gateway Dr., the property was approximately 40% vacant at the time of sale. The seller was Kennedy Wilson.
The purchase was led by SC Properties partner Kevin Phillips and managing director Chris Giotinis. Cushman & Wakefield managing director Gary Boitano and JLL senior managing director Clarke Funkhouser consulted on the acquisition and were retained to lead project leasing for the campus.
“We feel fortunate to be selected as the buyer of this wonderful property. The previous owner did an excellent job maintaining the asset, and we look forward to adding additional value,” Phillips said. “The property is right in our backyard, and SC Properties has a long history of local, high-quality real estate management, so we are very excited to roll up our sleeves on this one.”
- ◦Sale/Acquisition
