SAN CARLOS, CA-With prices going up, and inventory being squeezed, the County of San Mateo is selling an office complex it acquired just two years ago.
The county is working with CBRE to market the Circle Star Center office complex in San Carlos a two-building, 208,000-square-foot project, which is fully-leased to SoftBank. This according to a report in the Silicon Valley Business Journal.
"We realize the market was changing and there was significant opportunity there," deputy county manager Peggy Jensen told the media outlet.
She said the property is being offered unpriced, but the Journal cited sources who estimated that a sale could bring more than $83 million. That would be a windfall, as the county paid $40 million for the property.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
