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**Shorenstein Acquires Fully Leased Office and Retail Complex in San Mateo for $175 Million**
Shorenstein Investment Advisers has acquired Park Place at Bay Meadows, a 209,000-square-foot office and retail complex located in San Mateo, California. The transaction, reported at $175 million, includes the buildings at 1100 Park Place and 1200 Park Place—both of which are fully leased.
“These unique properties showcase the best of what the modern office can be – including being situated among compelling mixed-use offerings that attract quality tenants and talent alike,” said Jed Brush, Managing Director at Shorenstein. “Shorenstein is pleased to acquire such a high-quality office project in our own backyard, especially as leasing demand from technology companies in the area continues to accelerate.”
The acquisition comes at a time of significant activity in the Bay Meadows development, closing just days before the announcement of Roblox’s headquarters expansion in the area. The tech company’s footprint in Bay Meadows now spans approximately 750,000 square feet.
The purchase of 1100 and 1200 Park Place marks Shorenstein’s eighth office investment within the past 14 months, highlighting the firm’s continued strategic focus on high-quality assets in key markets.
*Photo courtesy of JLL.*
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