Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN FRANCISCO-Slough Estates has bought the Shoreline Technology Center and Seaport Center in the Bay Area of South San Francisco and a 41 acre development site in Carlsbad, CA for a total of $351 million. Spokespeople for the UK-quoted company, which owns and manages industrial and office assets throughout Europe and in the states, state that the buy is a continuation of its stated strategy to recycle assets in California so that Slough Estates USA continues to be self-financing. Slough USA is based in Chicago.

In the San Francisco Bay Area, Slough has acquired the 726,000-sf Shoreline Technology Center and the 623,000-foot Seaport Center from Equity Office Properties. Tenants include life-science companies Boston Scientific, Perlegen Sciences, Abbott Laboratories, Radiant Medical and LuMend and technology company Actel.

The land at Bressi Ranch, Carlsbad, will accommodate approximately 700,000 sf of office and R&D space. Slough will begin construction on the sites shortly and plans to market to biotech companies for build-to-suit requirements.

“The acquisition of the Shoreline and Seaport centers strengthens our portfolio in California in the short term,” reflects Ian Coull, chief executive of Slough. “There are significant opportunities for us to add value to both.” He went on characterize the Bressi Ranch buy as “a significant addition to our development pipeline in the San Diego County market.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.