SC Properties Acquires 1840 Gateway Office Building In San Mateo From Monday Properties For $16.25M

The property asset involved in this transaction is an office building located at 1840 Gateway Drive in San Mateo. The sale price for the asset was $16,250,000, and it encompasses a total area of 70,098 square feet. This Class A property is currently 75% built out as creative space and allows for flexible zoning, providing potential opportunities for future residential redevelopment.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $16,250,000
• Address: 1840 Gateway Drive
• Market: San Mateo
• Square Footage: 70,098
• Price Per Square Foot: $232
• Buyer: SC Properties
• Seller: Monday Properties
• Brokers: Gary Boitano, Ryan Venezia, Steve Hermann, Seth Siegel, Scott J. Prosser, Courtney Trunnell & Jack DePuy - Cushman & Wakefield

The deal was facilitated by SC Properties, which was advised by Cushman & Wakefield and JLL in this acquisition. The involved brokers represented both the buyer and seller throughout the transaction process, ensuring effective negotiation and closing.