The 482,000-sf complex of six separate buildings, including two buildings that are to be built by the seller, will be offered as three separate properties. Although not priced, the portfolio is expected to trade in the $135 – 145 million range.
"The anticipated individual asset prices of $275 to $325 per square foot represent an excellent value compared to other recent office sales on the Peninsula of $400 to $500 per square foot, especially considering that these are new buildings," said Gary Willard, senior vice president for CB Richard Ellis Investment Properties in Foster City, Calif.
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