Shorenstein Investment Advisers has acquired Park Place at Bay Meadows, a 209,000 square-foot office and retail complex in San Mateo, for a reported $175 million. The acquisition within the Bay Meadows mixed-use complex includes 1100 Park Pl. and 1200 Park Pl., both fully leased.
“These unique properties showcase the best of what the modern office can be – including being situated among compelling mixed-use offerings that attract quality tenants and talent alike,” said Jed Brush, managing director at Shorenstein. “Shorenstein is pleased to acquire such a high-quality office project in our own backyard, especially as leasing demand from technology companies in the area continues to accelerate.”
Shorenstein’s acquisition closed just days prior to the announcement of Roblox’s headquarters expansion at Bay Meadows, bringing it to 750,000 square feet. The addition of 1100 and 1200 Park Pl. marks Shorenstein’s eighth office investment over the past 14 months.
Photo courtesy of JLL.
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