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Broadreach Sells Peninsula Asset for $50M

BELMONT, CA-Broadreach Capital Partners sells a three-story, 160,000-sf class A office building here to Hines US Office Value Added Fund II.

By Brian K. Miller | Updated on December 13, 2007

BELMONT, CA-Broadreach Capital Partners has sold a vacant three-story, 160,000-sf class A office building here for $50 million, according to the Grubb & Ellis, which had the disposition assignment. The new owner is Hines US Office Value Added Fund II.

Located at 600 Clipper Dr., the building was completed in two phases. The 120,000-sf first phase was completed in 1995 and the 40,000-sf second phase was completed in 2000. The building features floor-to-ceiling windows, 51,000-sf floor plates and 471 surface parking spaces.

Ed Suharski, an SVP within G&E’s Institutional Investment Group had the disposition assignment. Hines has retained the brokerage firm Cornish & Carey to find it some tenants for the building.

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