Vacation Inn Specific (heart) and Max’s of Burlingame restaurant (proper) at 1250 Outdated Bayshore Freeway in Burlingame. One of many Bay Space’s most lively and veteran actual property builders has quietly assembled a number of Burlingame properties in a major location close to San Francisco Worldwide Airport.
BURLINGAME — One of many Bay Space’s most lively and veteran actual property builders has quietly assembled a number of Burlingame properties in a major location close to San Francisco Worldwide Airport.
Over a one-month interval from mid-December by mid-January, DivcoWest purchased seven parcels with addresses of 1200, 1240 and 1250 Outdated Bayshore Freeway in Burlingame, in keeping with paperwork filed with the San Mateo County Recorder’s Workplace.
Performing by two associates, DivcoWest paid a mixed whole of $55.7 million for the parcels, public information filed with the county in August, December, and Jan. 13 present.
The just-bought properties embody Max’s of Burlingame, a long-time New York-style deli restaurant; and Vacation Inn Specific San Francisco Airport, together with an workplace constructing, floor parking websites and vacant heaps.
The offers present that big-time actual property gamers and tech titans starvation for properties in San Mateo County in addition to websites within the Silicon Valley digital hubs in Santa Clara County.
DivcoWest purchased the seven Burlingame parcels by 4 separate transactions over the five-month interval, a assessment of paperwork on the County Recorder’s Workplace exhibits:
— August 2021, $12 million for 1250 Outdated Bayshore, a website that features the Max’s restaurant.
— December 2021, $16.2 million for 1250 Outdated Bayshore, an adjoining parcel that features Vacation Inn Specific San Francisco-Airport South, a 146-room lodge.
— Jan. 13, $13.8 million for 1200 Outdated Bayshore, three parcels are largely vacant heaps.
— Jan. 13, $13.8 million for 1240 Outdated Bayshore, two parcels that embody an workplace constructing.
DivcoWest has change into an lively participant in Santa Clara County, San Mateo County and Alameda County.
On Jan. 7, the corporate paid $164.5 million for an workplace constructing in South San Francisco. On Dec. 16, DivcoWest purchased an workplace constructing in Fremont’s Ardenwood district for $72.2 million.
In 2020, DivcoWest paid a jaw-dropping $610 million for an workplace campus on world-famous Sand Hill Highway in Menlo Park.
In downtown San Jose, DivcoWest is also busy ending up a wide-ranging revamp of the previous Financial institution of the West workplace constructing at 2 W. Santa Clara St.
On the just-bought Burlingame websites on Outdated Bayshore Freeway, the situation and nature of the properties may make the parcels engaging for redevelopment, particularly with the involvement of a savvy developer reminiscent of DivcoWest.
Tech, biotech, and life sciences firms have been wanting to lease or purchase workplace buildings and collectively websites on the Peninsula and within the South Bay.
