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EverWest Acquires Core Office Buildings
555 & 577 Airport Boulevard, Burlingame, California
EverWest, in partnership with global private markets investor, Partners Group, is pleased to announce the acquisition of a two-building, Class A Burlingame Bay Office Park totaling almost 13 acres and 261,959 square feet at 555 and 577 Airport Blvd. in Burlingame, California. Building sizes range from 120,681 to 139,413 square feet - and five to eight stories - respectively. Both buildings are visible from Highway 101/Bayshore Freeway and sit along the west side of the San Francisco Bay, offering immediate views of the East Bay and San Francisco.
"The North Peninsula office market is enjoying exceptional conditions, with overall vacancy at just 6 percent and strong and broad tenant demand that will continue to benefit well-located, high-profile projects like Burlingame Bay Office Park," said Ryan Madson, who oversees EverWest's Pacific Northwest Coast acquisition activity. "We are very pleased to add this asset to our portfolio, and believe we can add even more value through capital improvements and lease-up in the months and years ahead."
The asset sits adjacent to a Hilton Double Tree hotel, the Hilton San Francisco Airport Bayfront hotel and numerous restaurants. It is also minutes from San Francisco International Airport and less than 30 minutes from downtown San Francisco, Palo Alto and Mountain View.
Josh Rowell, Craig Kalinowski and Dan Matteucci with Newmark Knight Frank serve as the project's exclusive leasing brokers.