BURLINGAME — A purchasing spree for Burlingame properties now tops $100 million and has enabled a big-time Bay Space developer to assemble a big chunk of land alongside the Peninsula bayfront.
In the newest burst of purchases, DivcoWest paid $53.1 million for six parcels on Outdated Bayshore Freeway in Burlingame, paperwork filed on March 16 with the San Mateo County Recorder’s Workplace present.
But these are solely DivcoWest’s most up-to-date slew of offers on this stretch of Outdated Bayshore, based on this information group’s assessment of the county property data.
Previous to this month’s purchases, DivcoWest spent $55.7 million over a interval from August 2021 by January 2022 shopping for websites subsequent to the just-bought parcels.
That brings the whole worth of the DivcoWest land offers alongside Outdated Bayshore Freeway in Burlingame to $108.8 million, based on the property data.
DivcoWest wove collectively the properties right into a contiguous set of parcels that provides DivcoWest management over roughly 15 acres, primarily based on info culled from county evaluation maps.
The websites occupy a half-mile stretch subsequent to Outdated Bayshore Freeway and the close by bayfront.
Among the many outstanding companies on the websites that DivcoWest bought over an eight-month interval: Max’s of Burlingame restaurant, Vacation Inn Categorical San Francisco Airport, Caribbean Gardens bar and Se Como Asi Taqueria.
Some workplace buildings, floor parking tons and a few vacant parcels additionally occupy the websites now owned by DivcoWest.
The offers are a reminder that main 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 has grow to be 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 Street in Menlo Park.
In downtown San Jose, DivcoWest is also busy ending up a wide-ranging revamp of the outdated Financial institution of the West workplace constructing at 2 W. Santa Clara St.
On the just-bought Burlingame websites on Outdated Bayshore Freeway, the placement and nature of the properties might make the parcels enticing for redevelopment, particularly with the involvement of a savvy developer akin to DivcoWest.
Tech, biotech, and life sciences corporations have been desirous to lease or purchase workplace buildings and different websites on the Peninsula and within the South Bay. Google, Apple, Fb, LinkedIn, Amazon, Utilized Supplies, Fortinet and Intuitive Surgical are among the many company gamers.