Swift Real Estate Partners has recently acquired a mixed-use office and retail property, known as Gateway at Millbrae Station. The property, located at 166 N. Rollins Rd in Millbrae, spans over 180,000 square feet and was purchased for $47.7 million from Republic Urban Properties.
This newly constructed building is situated at the bustling Millbrae BART/Caltrain station and is part of one of the largest multi-modal transit-oriented developments in the western United States. It features three stories of office space above two levels of parking and ground-floor retail.
In 2023 construction was completed on this state-of-the-art property which boasts modern design elements throughout its interior spaces. The San Mateo County Transit District (Samtrans) has already leased out all available office space to serve as their new headquarters.
Swift plans to invest over $100 million into completing improvements on the building before officially bringing it to market. According to Jack Waldsmith, director at Swift Real Estate Partners: “This acquisition aligns with our strategy of investing in high-quality properties in prime locations with strong tenancy.”
The sale transaction was brokered by Eastdil Secured while CBRE facilitated the lease agreement between Samtrans and Swift Real Estate Partners.
