Hines Enlists Tech Company for San Mateo Property
- Apr 25, 2016
San Mateo, Calif.–Medallia is the latest company to expand in the Bay Area, on the back of a recently completed office lease in the San Mateo submarket. The software company has inked an agreement for 210,115 square feet of space at 400|450 Concar, an upscale office asset owned by Hines and Pearlmark. The company is slated to move into the new location in June 2017.
Located at 400 and 450 Concar Drive in San Mateo, the property offers a total of 304,807 net rentable square feet. Located on a 3.3-acre plot of land near the intersection of U.S. Highway 101 and Interstate 92, the asset is positioned near the nexus of the San Francisco and Silicon Valley markets. Tenants have access to the nearby Hayward Park Caltrain station, as well as the in-development Station Park Green.
Construction at 400|450 Concar is slated to end during the fourth quarter of 2016, with the property already 69 percent leased. Roughly 94,000 square feet of office space are still available for lease. According to Medallia’s Vice President of Workplace Services Michael Phelps, the company needed the expansion space due to the aggressive growth that it has recorded as of late.
Image courtesy of Hines