The CBRE U.S. Healthcare Capital Markets Group acted as the exclusive advisor for the sale of 1720 El Camino Real in Burlingame, Calif. (Photo courtesy of CBRE)
The CBRE U.S. Healthcare Capital Markets Group acted as the exclusive advisor for the sale of 1720 El Camino Real in Burlingame, California.
Sale Date: October 5, 2016
Sale Price: $28,500,000
Price Per SF: $312
Building Size: 91,396 SF
Occupancy: 91%
The CBRE U.S. Healthcare Capital Markets Group is pleased to announce the sale of 1720 El Camino Real (the “Property”) in Burlingame, California. Chris Bodnar and Lee Asher of the U.S. Healthcare Capital Markets Group partnered with Seth McKinnon in the San Francisco Market as the Seller’s exclusive advisors.
The Property is a ±91,396 square foot medical office adjacent to the Sutter Health Mills-Peninsula Hospital and is located just 1 mile from Highway 101 and 0.6 miles from the Millbrae BART and Caltrain stations. The Property is 91% leased to a variety of medical office users for a weighted average remaining lease term of almost four years and 45% of the net rentable area expiring over the next three years, offering a stable cash flow and access to the rent roll in the near term.
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