Seagate Properties, RGA Acquire The Atrium Office Building in San Mateo for $61.6M

by Nellie Day

SAN MATEO, CALIF. — A joint venture between Seagate Properties and RGA Real Estate Investments has purchased The Atrium, a 163,791-square-foot office building in Silicon Valley, for $61.6 million. The Class A property is located at the intersection of Highway 101 and 92. It is situated 20 miles south of Downtown San Francisco and 15 miles north of Stanford University.

The Atrium is currently 90 percent occupied. The largest tenant at the site is Prometheus Real Estate Group.

The building was constructed in 1983. It recently underwent a $300,000 renovation.

Steven Hinds and Peter Ryan of George Elkins Mortgage Bank helped facilitate the joint venture between Seagate and RGA. Steve Herman, Eric Fox and Bob Gilley of Cushman & Wakefield represented the seller, Prometheus, in this transaction.

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