https://www.bizjournals.com/sanfrancisco/news/2021/03/15/south-san-francisco-warehouse-sales.html
Two adjacent warehouses in South San Francisco traded hands recently in separate deals.
Prologis (NYSE: PLD) bought the 140,000-square-foot warehouse at 200-218 Shaw Road in December for $76.65 million, or about $547 per square foot. The seller of the 8.2-acre property was not disclosed.
Nearby, REDCO Development in February scooped up a 127,000-square-foot industrial property at 352 Shaw Road for $39 million, or $309 per square foot. The seller of the 4.6-acre site was Blueprint Studios.
Both properties are located west of Highway 101 near San Mateo Avenue, an area home to major industrial users such as Amazon and FedEx.
Dave Black and Marshall Hydorn of CBRE will market the Prologis property for lease. Prologis, a San Francisco real estate investment trust, did not respond to a message seeking comment on Monday.
At the second property, REDCO entered into a five-year sale-leaseback with seller Blueprint as part of the off-market transaction. REDCO retains to the right to terminate the lease with Blueprint, which is planning to relocate from the property.
BluePrint Studios’ recently conducted substantial renovations to the property, including an office buildout, REDCO said in a statement.
The development company, which is headed by brothers Chris and Jason Freise, is primarily focused on commercial value-add and development opportunities in the Bay Area and in Seattle areas.
The property will be marketed for lease by Matt Squires of Cushman & Wakefield.