DivcoWest Adds to Burlingame Portfolio with $53.1MM Acquisition

By Meghan Hall

DivcoWest has been steadily adding to its Bay Area portfolio and has added six more parcels to its holdings this month. In a deal that closed on March 15th, the developer paid $53.1 million for property along Old Bayshore Highway, according to The Mercury News. The deals bring DivcoWest’s holdings along Old Bayshore to around 15 acres total.

The properties are currently developed with a mix of commercial buildings, including a Holiday Inn Express San Francisco Airport, Max’s of Burlingame and others. The properties are located right off of Highway 101 and are minutes from San Francisco International Airport and San Francisco Bay.

The latest purchase adds to a number of acquisitions DivcoWest made in Burlingame at the end of 2021. The company purchased 1200, 1240 and 1250 Old Bayshore for $55.7 million.

The acquisitions were finalized alongside a number of other deals across the Bay Area. On January 7th, DivcoWest acquired a South San Francisco office asset at 5000 Shoreline Ct. for $164.5 million. The building rises three stories and totals 138,381 square feet. In all, it sits on just under 8.6 acres.

In recent months, the firm also acquired 6550 Dumbarton Circle in Fremont for $72.2 million; 63 percent of the asset has been leased to Alexza Pharmaceuticals. The company is also working on a new vision for the Sand Hill Collection, a collection of buildings in Menlo Park totaling 552,000 square feet.

West Coast Commercial Real Estate News