{"id":1004162993,"date":"2017-01-04T08:29:38","date_gmt":"2017-01-04T16:29:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004162993"},"modified":"2022-12-08T16:41:43","modified_gmt":"2022-12-09T00:41:43","slug":"meridian-acquires-105ksf-ca-office-building-for-29m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-acquires-105ksf-ca-office-building-for-29m\/","title":{"rendered":"Meridian Acquires 105 KSF Office Building for $29M"},"content":{"rendered":"

By IvyLee Rosario<\/p>\n

\"1000<\/a>

1000 Marina<\/p><\/div>\n

Brisbane, Calif.<\/strong>\u2014Meridian has purchased 1000 Marina, a six-story, 105,000-square-foot office building in San Mateo County, Calif., from Boston-based equity firm TA Associates. The company\u00a0purchased the 90 percent-leased building for $29 million. The 1983-built asset\u00a0is LEED-certified, offers 396 parking spaces, common area Wi-Fi and was owned by TA Associates since October 2007, according to Yardi Matrix.<\/p>\n

“This acquisition represents our largest general office acquisition to date. South San Francisco and Brisbane are the epicenter of the biotech universe and we think 1000 Marina will continue to benefit from that,” said Dan Rosenbaum, Meridian’s\u00a0senior\u00a0vice president of acquisitions in\u00a0northern California, in prepared remarks. “As is the case in most buildings that we buy, we will perform some significant upgrades to the building, including common areas and exterior gathering places. This purchase is consistent with our value-add approach towards general and medical office.”<\/p>\n

This marks Meridian’s second major office transaction in northern California since September 2016 when\u00a0it sold The Atrium, a 77,000-square-foot office building in Pleasanton. CBRE investment brokers Joe Moriarty and Seth McKinnon assisted in this transaction and\u00a0the team of Simon Clark and Matt Mulry will continue on as the leasing brokers.<\/p>\n

Image courtesy of Meridian<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

This marks the second major office transaction for Meridian in northern California since September 2016.<\/p>\n","protected":false},"author":746,"featured_media":1004162999,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1609,15],"tags":[32789,33332,33333],"class_list":["post-1004162993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-san-francisco","category-west","tag-cbre","tag-meridian","tag-ta-associates"],"acf":[],"yoast_head":"\nMeridian Acquires 105 KSF Office Building for $29M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/meridian-acquires-105ksf-ca-office-building-for-29m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meridian Acquires 105 KSF Office Building for $29M\" \/>\n<meta property=\"og:description\" content=\"This marks the second major office transaction for Meridian in northern California since September 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/meridian-acquires-105ksf-ca-office-building-for-29m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-04T16:29:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:41:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/1000-Marina.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1050\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/meridian-acquires-105ksf-ca-office-building-for-29m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/meridian-acquires-105ksf-ca-office-building-for-29m\/\",\"name\":\"Meridian Acquires 105 KSF Office Building for $29M - 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