2:30 PM
NGKF Capital Markets today announced the sale of San Mateo BayCenter to Rubicon Point Partners (Rubicon). Seller Rockpoint Group, L.L.C. (Rockpoint) originally purchased the approximately 300,000-square-foot, three-building campus in September of 2014 and recently completed a substantial renovation and repositioning of the asset.
Recent improvements include the addition of a state-of-the-art indoor/outdoor community area with amenity space and cafe, full lobby renovations, a revitalized fitness center and locker rooms, and new landscaping and signage. Further enhancing the value of the 88 percent-occupied property, anchor tenant Marketo, Inc. recently expanded to 140,000 square feet of leased space. Other major tenants include OpenText Corporation and Sares-Regis Group.
NGKF Capital Markets’ Steve Golubchik, Edmund Najera and Ben Bucci marketed the San Mateo BayCenter for sale together with HFF’s Michael Leggett.
Located at 999 Baker Way and 901 and 951 Mariners Island Boulevard, San Mateo BayCenter is approximately one-half-mile from Highways 101 and 92 and features a Caltrain shuttle stop.
About Newmark Cornish & Carey
A dominant regional real estate force since 1935, Newmark Cornish & Carey has an expansive reach as part of Newmark Grubb Knight Frank, one of the world’s leading commercial real estate advisory firms. Regionally, Newmark Cornish & Carey has more than 280 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.newmarkccarey.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.