Home to Tesla offices and the headquarters of wearable camera company GoPro, San Mateo’s six-building Clearview Business Park has been acquired by the real estate firm Hines, according to an April announcement from the company.
Just north of State Route 92 and east of West Hillsdale Boulevard, the 379,219-square-foot campus is expected to offer tenants a strategic location between Highway 101 and Interstate 280 and bolster the firm’s portfolio in San Mateo and Bay Area, said Senior Managing Director Cameron Falconer.
“Clearview Business Park is a high-quality asset in a strategic location,” he said in the release. “We are excited to add this property to the Hines portfolio as we continue to grow in San Mateo and the Bay Area.”
Owner of a four-story office complex currently being constructed at the corner of Delaware Street and Concar Drive and San Mateo Gateway, a 217,544-square-foot, three-building office campus at the city’s border with Foster City, the developer has a history of working on building projects in the area, which also includes property management of a seven-story office building at 777 Mariners Island Blvd.
The San Mateo County Assessor’s Office confirmed the office park’s parcel was most recently sold Dec. 7 and its assessed value in 2017 was $165,758,905.
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The park’s previous owners Embarcadero Capital Partners and Deutsche Asset & Wealth Management partnered to purchase the 22-acre property and add another 100,000 square feet of office space to the park some three years ago. Formerly the headquarters for Visa as well as SolarCity before the latter company was acquired by Tesla in late 2016, the park is now completely leased to GoPro and Tesla.
“We are proud that Clearview Business Park is home to GoPro’s long-term corporate headquarters,” said Hines director Sam Cheikh in an email. “We also look forward to working with Tesla, which acquired longtime tenant Solar City.”
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