Livermore, San Mateo Campuses Find New Ownership

By Alex Girda, Associate Editor

The Greenville Business Center in Livermore was the object of San Francisco’s latest industrial real estate deal as it traded hands for a total of $23.3 million. The seller, Property Reserve Inc., relinquished the four-building industrial center located at Lawrence Drive and Las Positas Road to Westcore Properties, an international real estate acquisition firm that specializes in multi-tenant industrial and office properties.

The complex offers four buildings totaling 475,099 square feet of Class A space, 37 percent of which is currently leased. It includes 18 warehouse/distribution units and tenants like Horizon Snack Foods, AV Images Inc., Red Bull Distribution Co., Baer Enterprises and Masterpiece Cookies, the San Francisco Business Times reports. The property stands on a 24.8-acre site located approximately one mile south of Interstate 580.

Another large real estate property set to find new life in the San Francisco area is the former Siebel Systems campus, which is being taken over by Sony Computer Entertainment America. The San Mateo office campus boasts 450,000 square feet of space at 2207 Bridgepoint Parkway. The spot stands only a mile away from the tech giant’s current Foster City home.

The San Francisco Business Times reports that the company’s new home will be undergoing renovation and preparation processes. SCEA’s new center will be ready for its next tenants in about 16 months and should ensure future business and growth needs fitting to the company’s brand, the company told the Business Times.

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