(SAN MATEO, CA) – Hines, the international real estate firm, and Pearlmark, a private equity real estate firm, announced today that Medallia, the global Software as a Service (SaaS) Customer Experience Management (CEM) leader, has signed a 210,115-square-foot lease at 400|450 Concar, a new Class A office complex totaling 305,000 square feet on 3.3 acres in San Mateo, CA. Medallia, one of Sequoia Capital’s most prominent investments to date, plans to move its headquarters to the new location in June 2017.
With this deal, the project is 69 percent leased. Construction is scheduled for completion the fourth quarter of 2016. Josh Rowell and Craig Kalinowski of Newmark Cornish & Carey represented Hines, the building’s developer, owner and manager.
Centrally located near the intersection of U.S. Hwy. 101 and Interstate 92, 400|450 Concar is uniquely positioned between San Francisco and Silicon Valley. The property is directly adjacent to the Hayward Park Caltrain station and future retail and housing amenities at Station Park Green.
“400|450 Concar offers the ideal combination of location, services and amenities that fast growing, high-performance companies like Medallia are looking for,” said Hines Director Sam Cheikh. “Our project offers the best commute options on the Peninsula, and great opportunities for Medallia’s future expansion.”
“We are pleased Medallia chose to plan its future at 400|450 Concar, a premier first-class office development backed by strong sponsorship” added Pearlmark Managing Director Tim McChesney.
Michael Phelps, VP of Workplace Services at Medallia stated, “We are bursting at the seams, and this new office will not only provide a premier headquarters for our team, but with its central, commute-friendly location, will allow easy access for our global ecosystem of partners, customers and employees.”
From Zurich Insurance, Nordstrom and Delta Airlines to Four Seasons Hotel and Resorts and SAP, Medallia empowers the largest global enterprises in the world to create and deliver customer experiences that drive revenue performance and the bottom line. The company surpassed $125 million in revenue last year and has experienced a 45 percent year-over-year headcount growth.
Medallia® is the Customer Experience Management company that is trusted by hundreds of the world’s leading brands. Medallia’s Software-as-a-Service application enables companies to capture customer feedback everywhere the customer is (including web, social, mobile, and contact center channels), understand it in real time, and deliver insights and action everywhere—from the C-suite to the frontline—to improve their performance. Founded in 2001, Medallia has offices in Silicon Valley, New York, London, Paris, Hong Kong, Sydney and Buenos Aires. Learn more at www.Medallia.com.
Chicago-based Pearlmark is a private equity real estate investment firm that pursues domestic, value-added and core/core-plus strategies through institutional commingled investment vehicles and separate accounts. Since its inception in 1996, the firm has made more than 515 office, industrial, retail, multifamily, and mezzanine loan investments nationwide, representing a gross investment of over $12.5 billion. Pearlmark and its partners, including insurance companies, public and private pension funds, foundations and endowments, banks, corporations, and high net worth individuals and families, have committed over $4.6 billion of equity capital to the firm’s investment activities. The company currently employs approximately 30 professionals. For more information, please visit www.pearlmark.com
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 182 cities in 20 countries. Hines has $89.1 billion of assets under management, including $42.5 billion for which Hines provides fiduciary investment management services, and $46.6 billion for which Hines provides third-party property-level services. The firm has 109 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,126 properties, totaling over 351 million square feet. The firm’s current property and asset management portfolio includes 457 properties, representing over 193 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.