(EDITOR’S NOTE: The seller of the property was Long Market Property Partners, which had owned the building since July of 2015. Long Market had paid $10.1 million, or $210 per square foot, to acquire the 3-building office and R&D campus.)
48,000 SF Office and R&D Campus Located Near the University of California at Berkeley
Berkeley, Calif., March 1, 2018 – Thor Equities, a global leader in urban real estate development, leasing and management, has closed on the acquisition of 600 Bancroft Way in Berkeley, California for $17.5 million, company executives announced today.
The property is comprised of three buildings totaling more than 48,000 square feet of office and R&D space. Tenants in the mostly occupied space include Bonneville Labs, Lifelong Medical Care, Blue Current, and Lumiphore. Overlooking San Francisco Bay and the Golden Gate Bridge, the 2.9-acre waterfront parcel also features a furnished outdoor courtyard, and direct access to the adjacent Aquatic Park featuring a playground, rowing, hiking and picnic areas.
“Berkeley is an ideal location for office and R&D space due to its proximity to the University of California and numerous life science companies, along with easy transportation access to the entire Bay Area,” said Joseph Sitt, CEO of Thor Equities.
In addition to the University of California and the Lawrence Berkeley National Laboratory, the property is close to a number of green technology, biotechnology research and pharmaceutical companies such as Bayer Healthcare, Novartis, Grifols and Siemens.
600 Bancroft Way is near Interstate 80 and public transit systems. Numerous coffee shops, restaurants and retail shops are also within easy walking distance including Apple, Anthropologie and Madewell.
Thor Equities owns a number of properties throughout California including 634 Second St., 152 Geary St. and 444 Jackson St. in San Francisco; 145 N. Robertson Blvd., 142 S. Robertson Blvd. and 900 S. Santa Fe Ave. in Los Angeles; 19000 Homestead Road in Cupertino; 385 17th St. in Oakland; and the recently acquired 130-150 Shoreline Dr. in Redwood City.
About Thor Equities
Thor Equities is a leader in the development, leasing and management of commercial, residential, retail, hotel and mixed-use assets in premier urban locations worldwide. The company maximizes returns for investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. Thor Equities is also the exclusive representative of global retailers through Thor Retail Advisors, a premier leasing agent for marquee properties worldwide. For more information, visit www.thorequities.com.