BURLINGAME — A purchasing spree for Burlingame properties now tops $100 million and has enabled a big-time Bay Space developer to assemble a substantial chunk of land together the Peninsula bayfront.
In the most the latest burst of purchases, DivcoWest paid $53.1 million for six parcels on Previous Bayshore Highway in Burlingame, files filed on March 16 with the San Mateo County Recorder’s Office present.
Nonetheless these are only DivcoWest’s most recent slew of discounts on this extend of Outdated Bayshore, in accordance to this news organization’s critique of the county home records.
Prior to this month’s buys, DivcoWest invested $55.7 million around a period from August 2021 by January 2022 getting web-sites up coming to the just-acquired parcels.
That provides the total price of the DivcoWest land discounts alongside Aged Bayshore Highway in Burlingame to $108.8 million, according to the home data.
DivcoWest wove with each other the qualities into a contiguous established of parcels that gives DivcoWest manage about around 15 acres, dependent on information and facts culled from county evaluation maps.
The web-sites occupy a fifty percent-mile extend subsequent to Outdated Bayshore Highway and the nearby bayfront.
Between the prominent businesses on the web sites that DivcoWest obtained over an 8-thirty day period period of time: Max’s of Burlingame restaurant, Getaway Inn Categorical San Francisco Airport, Caribbean Gardens bar and Se Como Asi Taqueria.
Some office properties, floor parking heaps and some vacant parcels also occupy the web sites now owned by DivcoWest.
The bargains are a reminder that important serious estate gamers and tech titans starvation for houses in San Mateo County as properly as internet sites in the Silicon Valley electronic hubs in Santa Clara County.
DivcoWest has turn into an active participant in Santa Clara County, San Mateo County and Alameda County.
On Jan. 7, the firm paid $164.5 million for an office developing in South San Francisco. On Dec. 16, DivcoWest bought an workplace constructing in Fremont’s Ardenwood district for $72.2 million.
In 2020, DivcoWest paid out a jaw-dropping $610 million for an office campus on world-famed Sand Hill Road in Menlo Park.
In downtown San Jose, DivcoWest also is chaotic finishing up a extensive-ranging revamp of the outdated Financial institution of the West business office constructing at 2 W. Santa Clara St.
At the just-bought Burlingame internet sites on Aged Bayshore Highway, the site and character of the attributes could make the parcels beautiful for redevelopment, especially with the involvement of a savvy developer these kinds of as DivcoWest.
Tech, biotech, and daily life sciences businesses have been keen to lease or acquire office structures and other websites on the Peninsula and in the South Bay. Google, Apple, Facebook, LinkedIn, Amazon, Applied Resources, Fortinet and Intuitive Surgical are between the company players.
