Longfellow Real Estate Buys Office Campus in San Mateo from Rubicon Point Partners for $156M

SAN MATEO, CALIF. — Longfellow Real Estate Partners has purchased San Mateo Bay Center, a two-building office campus located at 901 and 951 Mariners Island Blvd. in San Mateo. Rubicon Point Partners sold the asset for $156 million. Steven Golubchik, Edmund Najera, Jonathan Schaefler, Darren Hollak and Jack Phipps of Newmark represented the seller in the deal.

Totaling nearly 250,000 square feet, the campus is currently 88 percent occupied with substantial near-term rollover of 198,000 square feet in the first three years, enabling a conversion to life sciences space for the buyer.

The campus has received more than $17 million in capital improvements since 2015, including multiple outdoor amenity spaces, a ground-floor café, onsite fitness center, creative exposed ceilings in tenant areas, HVAC renovations, lobby upgrades and parking lot resurfacing.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties