589 11th Avenue
US - New York, NY
NZ$15,861,000 | 1,463 m²
Jones Lang LaSalle Americas, Inc., (“JLL”), has been exclusively retained, and is pleased to present the one of a kind opportunity to acquire the fee simple interest in Park Place @ Bay Meadows (“Park Place” or the “Property”), a 258,233 square foot, transitoriented office/retail mixed-use project located in one of the Peninsula’s most dynamic live, work, play environments. Situated on 6.6 acres, the offering includes two trophy mixed-use buildings and one grocery anchored retail center, which are leased to some of the world’s most credit worthy tenants Whole Foods (Amazon), Meta, Essex, Zynga (Take-Two Interactive) and UCSF Health. The Property is currently 100% leased with 6.7 years of weighted average lease term remaining and investment grade credit covering 88% of the rent roll, creating one of the only true core investment opportunities on Caltrain. Additionally, with modern, post-2000’s construction, significant recent landlord investment and prestigious LEED certifications, Park Place provides
investors with some of the most premier creative office space in the Bay Area.
Park Place @ Bay Meadows offers investors the one of a kind opportunity to acquire an institutional quality, mixed-use asset of scale with investment grade credit, long-term WALT and unmatched access in one of the Bay Area’s most competitive investment markets.