HFF closes $32.25 million sale of 1450 Veterans Boulevard in Redwood City, California
SAN FRANCISCO, CA – May 18, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $32.25 million sale of 1450 Veterans Boulevard, a three-story, 53,000-square-foot office building in downtown Redwood City, California.
HFF marketed the property on behalf of the seller, Griffin Capital, and procured the buyer, Rees Properties, Inc.
1450 Veterans Boulevard is located in downtown Redwood City, just one mile from the Redwood City Caltrain station, providing direct access to downtown San Francisco. Downtown Redwood City offers the unique combination of proximity to Stanford University, venture capital, the U.S. Highway 101 corridor and connectivity to the executive housing corridor along Interstate 280 via Woodside Road. The property was built by DPR Construction for its own use in 2000 and is fully occupied by the firm through 2022. The 1.81-acre site also offers tenants 171 parking stalls.
The HFF investment sales team representing the seller was led by Michael Leggett, co-head of HFF’s West Coast team; senior managing director Gerry Rohm; director Ben Bullock and associate director David Dokko.
About Griffin Capital Corporation
Griffin Capital Company, LLC ("Griffin Capital") is a privately held, Los Angeles headquartered investment and asset management company with a 22-year track record sponsoring real estate investment vehicles and managing institutional capital. Led by senior executives with more than two decades of real estate experience, who have collectively closed transactions representing over $22 billion in value, Griffin Capital and its affiliates have acquired or constructed approximately 58.8 million square feet of space since 1995. Griffin Capital and its affiliates own, manage, sponsor and/or co-sponsor a portfolio consisting of approximately 42 million square feet of space, located in 30 states and the United Kingdom, representing approximately $7.8 billion in asset value, based on purchase price, as of March 31, 2017.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.