CBRE’s Capital Markets team in San Francisco successfully brokered the sale of 1710 Gilbreth in Burlingame for $15.1 million to a private investor. Representing the seller, California Society of Certified Public Accountants (CalCPA), were Kyle Kovac, Mike Taquino, Joe Moriarty and Giancarlo Sangiacomo. The three-story office building was built in 1950 and underwent significant renovations including new exteriors, interiors and structural retrofit during 2017.
Demand from office and R&D tenants throughout the San Francisco Peninsula increased significantly this year with more than 2.1 million square feet being absorbed according to CBRE Research data; Burlingame had one of the lowest vacancy rates on the Peninsula as well as net absorption rate that exceeded expectations . CalCPA recently relocated its headquarters to Sacramento where it is expanding its presence while continuing to support professional growth & development for certified public accountants across California .
Connect Orange County will take place Sept 27 2023 at VEA | Newport Beach Marriott concurrently with Connect Healthcare Real Estate on Sept 27 & 28 – registration links are available here: [insert link]. This latest transaction further highlights CBRE’s expertise when it comes to brokering commercial real estate sales within California’s Bay Area marketplaces such as Burlingame .
