(SAN MATEO, CALIFORNIA) – Hines, the international real estate firm, announced today that it has acquired Clearview Business Park, a 379,219-square-foot, six-building Class A creative office campus, located on a 22-acre bluff in the heart of the San Francisco Peninsula. Financials on the deal were not disclosed.
Situated atop the San Francisco Peninsula ridgeline, Clearview Business Park offers panoramic views of the San Francisco Bay and Peninsula. The property is strategically located between US-101 and I-280 with direct access to Highway 92, and proximate to the Bay Area’s key employment centers and unparalleled convenience to executives and highly skilled employees residing in the area.
Hines Senior Managing Director Cameron Falconer said, “Clearview Business Park is a high-quality asset in a strategic location. We are excited to add this property to the Hines portfolio as we continue to grow in San Mateo and the Bay Area.”
The property is 100 percent leased to two tenants: GoPro (NASDAQ: GPRO), the world leader in high definition versatile cameras, and Tesla (NASDAQ: TSLA), the leader in electric and autonomous driving vehicles.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 24 countries. Hines has approximately $111 billion of assets under management, including $60 billion for which Hines provides fiduciary investment management services, and $51 billion for which Hines provides third-party property-level services. The firm has 108 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,295 properties, totaling over 422 million square feet. The firm’s current property and asset management portfolio includes 506 properties, representing over 210 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.