7/12/2007

San Mateo class A Office building sells for $48.5 million

by
San Mateo Plaza Investors, represented by NAI BT Commercial's Investment Services Group, sold San Mateo Plaza at 1850 Gateway Dr. in San Mateo, Calif. to Foster City-based Legacy Partners Realty Fund II LLC for $48.5 million.

Situated on 5.1 acres, the seven-story, 138,205 square foot Class A office building is 75 percent leased to five tenants. Sprint Communications currently houses two floors in the 17-year old building.

Legacy Partners manages a commercial and residential real estate portfolio of more than $6.3 billion. Their experience is in property acquisition, development and management.

Address: 1850 Gateway Dr., San Mateo

Size: 138,205 square feet

Built: 1990

Architect: TGA Architects

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Filed Under: Office

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