Newmark Knight Frank Directs $39.2M Acquisition of Medical Office Property in Burlingame, California
BURLINGAME, CALIF. — Newmark Knight Frank (NKF) has arranged the purchase of a medical office property adjacent to Mills-Peninsula Medical Center in Burlingame. Lincoln Property Co. acquired the asset for $39.2 million.
Located at 1720 El Camino Real, the property features 104,000 square feet of medical office space spread across three interconnected buildings. Situated on 3.7 acres, the property also includes a five-level parking structure. At the time of sale, the asset was 88 percent occupied by a number of medical users.
Seth McKinnon of NKF represented the buyer in the off-market transaction. The name of the seller was not released.