Cushman & Wakefield arranged the sale of 1840 Gateway, a 70,098-square-foot Class A office building located in San Mateo. The final sale price was $16,250,000.
The firm’s Gary Boitano, Ryan Venezia, Steve Herman, Jack Depuy, Seth Siegel, Scott Prosser and Courtney Trunnell represented both the seller, Monday Properties, and the buyer, SC Properties, in partnership with JLL’s Clarke Funkhouser.
“The San Francisco Peninsula is a region known for its dynamic business environment and strategic location,” said Boitano. “The significant capital improvements and the building’s potential for future redevelopment make it an attractive investment for SC Properties. We are confident that their local expertise and commitment to enhancing properties will bring substantial value to the community.”
Approximately 75% of 1840 Gateway’s square footage is finished as high-end creative space. The property also includes a multi-story glass-enclosed lobby and offers flexible zoning that allows for potential redevelopment to residential use.
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