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ALAMEDA – Investors have seized two Alameda office buildings in deals that suggest a continuing interest in technology and biotechnology hotspots in the Bay Area.
Over the past few months, home buyers have shown that they have a healthy appetite for office buildings and business parks, which are dominated by biotech, biotech and tech companies.
As part of the latest series of deals, development and investment firm Paceline Investors bought office buildings in Alameda a few blocks from each other, according to filings filed June 21 with the Alameda County Registrar.
San Francisco-based Paceline, through affiliates it controls, paid a total of $ 37.5 million for the two buildings, county records show.
According to country figures, Paceline paid $ 30.1 million for an office building at 1451 Harbor Bay Parkway, which has a total area of 86,100 square feet. Kaiser Permanente rents most of this building.
Separately, the real estate company paid another $ 7.4 million for a 38,900-square-foot office building, according to the title deeds.
“Paceline Investors is focusing on inflating properties in the Bay Area, where value can be actively created in both the short and long term,” the company said on its website.
These properties are not the only ones in Alameda that have attracted buyers’ interest lately.
Less than a month ago, on May 26, Texas-based Invesco Real Estate paid $ 102.1 million for six properties in Alameda in the same area as the plots that Paceline’s investors acquired.
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