Cushman & Wakefield Represents Landlord in One of SF Peninsula’s
Largest-Ever Leases
BURLINGAME, Calif.--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) has announced that Burlingame Point, a
brand new approximately 803,000-square-foot (sf) office campus currently
under construction in Burlingame, California, has finalized an agreement
with Facebook to lease the entire project. Situated on 18.13 acres on
the edge of the San Francisco Bay, Burlingame Point is a best-in-class
office development by Kylli, a wholly-owned subsidiary of China-based
Genzon Investment Group Co., Ltd.
Facebook first publicly announced the lease was in negotiations to the
City of Burlingame Planning Commission in August and the lease was fully
executed shortly thereafter in the fourth quarter of 2018. Mike Moran
and Clarke Funkhouser of Cushman & Wakefield represented Kylli in the
transaction. JLL represented the tenant.
Moran said, “We couldn’t be more excited that one of the world’s leading
technology firms has selected Burlingame Point to expand their Northern
California footprint. This is a testament that strong design elements do
make a difference to the discerning tenant.”
Burlingame Point will execute on the City of Burlingame’s intent to
activate their waterfront. In addition to four new Class A office
buildings with bay views, the project will include public amenities such
as an improved Bay Trail, a vibrant pedestrian promenade, and a safer
roadway for cyclists and motorists. Fisherman’s Park also receives a
facelift as a result of the project.
Funkhouser said, “Now that construction is well underway, it is more
evident that this project will be an exceptional example of the
forward-thinking of both Kylli and their world class team of partners.”
He added, “Believed to be one of the largest lease transactions ever on
the San Francisco Peninsula, the project scale, location and quality
were all factors that helped to solidify this lease.”
Expected to open in 2020, Burlingame Point is the first Class A office
campus developed by Kylli in the Bay Area. They also own 225 Bush in San
Francisco (former Standard Oil Building) and 43 acres in Santa Clara
currently going through re-entitlement for a very large mixed-use
office, retail and residential development.
Source: Cushman & Wakefield
About Kylli
Kylli Inc. was established in October 2013 in California, as a
wholly-owned subsidiary of Genzon Investment Group Co., Ltd., Kylli
carries an important mission to direct Genzon’s investment in the San
Francisco Bay Area. Kylli focuses on investment, development and
management of institutional quality assets in the United States.
Additional Bay Area properties owned by Kylli include 225 Bush in San
Francisco and 3005 Democracy Park in Santa Clara. Genzon is a
privately-held full service investment company headquartered in
Shenzhen, China, with diverse expertise and experience in developing and
managing a variety of building types, such as high-rise offices,
technology campuses, residential projects, hotels, and golf resorts.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services
firm that delivers exceptional value for real estate occupiers and
owners. Cushman & Wakefield is among the largest real estate services
firms with 48,000 employees in approximately 400 offices and 70
countries. In 2017, the firm had revenue of $6.9 billion across core
services of property, facilities and project management, leasing,
capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com
or follow @CushWake
on Twitter.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190122005914/en/
Joshua Deale
Cushman & Wakefield
Seniors
Communications Specialist
Mobile: +1 408 806 4005
joshua.deale@cushwake.com
Source: Cushman & Wakefield