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California  + Bay Area  + Healthcare  | 
Gemini Rosemont Acquires Burlingame Life Science Building for $59M

Gemini Rosemont Buys Burlingame Life Science Building for $59M

Gemini Rosemont Commercial Real Estate, a Los Angeles-based real estate investment management firm, has acquired Peninsula Life Science Center, a 66,000-square-foot, eight-story building in Burlingame, CA. The firm purchased the asset from Sansome Street Advisors and Gordon Brothers in a $59.35 million all-cash transaction.

The property is 98% leased and is anchored by three life science tenants. Built in 1974 and recently renovated, the building features floor-to-ceiling windows with San Francisco Bay views and an above-market parking ratio. The Millbrae BART/Caltrain station is just a five minute walk and nearby Highway 101 provides convenient access to the Bay Area.

“Peninsula Life Science Center is a well-located, fully stabilized property,” said Gemini Rosemont’s Tenzin Tsungmey. “The $11 million capital and tenant improvements in 2022, and the addition of four million square feet of proposed life science developments within three miles brings huge value-add to this investment.”

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Inside The Story

Gemini RosemontSansome Street AdvisorsGordon BrothersTenzin Tsungmey

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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