SRS Investment Services Group Secures $24 Million Sale of Class A Office Building in Daly City, Calif.
SAN FRANCISCO (September 28, 2016) – SRS Real Estate Partners (SRS) is pleased to announce the sale of a 55,000-square-foot office building located at 2171 Junipero Serra Blvd. in Daly City, Calif. Built in 1989, this Class A Type 1 concrete and steel building is strategically located next to U.S. Interstate 280 and only three blocks from the Daly City BART station. The property sold for $24,000,000 (EDITOR: or just over $436 per square foot) on Sept. 23, 2016 and is considered a rarity in the Northern Peninsula office market, as it is one of a few quality buildings serving smaller professional tenants. In addition, Daly City is enticing to businesses given its attractive transportation options and lack of a payroll tax.
(EDITOR: The buyers purchased the office building in August of 2014 for $14.3 million, or $260 per square foot.)
Michael Federle with SRS Real Estate Partners represented the seller, Brothers International of San Francisco. The buyer is undisclosed.
About SRSReal Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and management services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com/sfbayarea.