Hines Acquires San Francisco Creative Office Campus
- Apr 23, 2018
Hines has acquired Clearview Business Park, a Class A creative office campus in San Francisco.
Located atop the San Francisco Peninsula ridgeline, the campus is situated on 22 acres and comprises six buildings totaling 379,219 square feet. The property is currently 100 percent leased to GoPro and Tesla. Clearview Business Park is within close proximity to US-101, Interstate 280 and Highway 92.
“Clearview Business Park is a high-quality asset in a strategic location. We are excited to add this property to the Hines portfolio as we continue to grow in San Mateo and the Bay Area,” said Cameron Falconer, senior managing director, Hines, in a prepared statement.
According to Yardi Matrix, buildings A, B, C, E and F were constructed in 1970 and last renovated in 2007. Building D is the newest, having been built in 2016. Embarcadero Capital Partners was recorded as the most recent owner, which acquired the campus in April 2014 for $125.5 million from Lowe Enterprises.
Earlier this month, Hines and Oaktree Capital Management acquired First Tower, a Class B office building in Calgary, Canada.
Image courtesy of Hines