Located at 375-389 Oyster Point Blvd., the property is 5 minutesnorth of the San Francisco International Airport and surrounded bylife science companies. It is also within walking distance of a newferry terminal that is supposed to open next year. A sourcefamiliar with the property and the buyer tells GlobeSt.com thatShorenstein has no near-term plans to redevelop the site – thoughthat is the plan eventually -- and is currently signing multi-yearleases for certain buildings within the development.

Several well-heeled buyers reportedly submitted best and finaloffers, including REITs, private developers and would-beowner-users. Chief South San Francisco Planner Susy Kalkin toldGlobeSt.com earlier this year that Alexandria Real Estate Equitiesand Healthcare Property Investors Inc. and Hines were among the sixor so companies that had conversations with the city aboutpotential entitlements for the site.

"It's a gorgeous site surrounded by water," Kalkin says."There's not very much underutilized land left [in South SanFrancisco]; it's a very unique parcel."