1180 Main_Property for Sale
1180 Main_Property for Sale
1180 Main Street, Redwood City, CA, 94063-1913, US

1180 Main

Asset description

Jones Lang LaSalle Americas Inc. (“JLL”), has been retained to solicit offers from qualified investors to acquire the 100% fee simple interest in 1180 Main Street, a three-story, 126,737 square foot, newly constructed, Class A office property located in Downtown Redwood City. Situated on a 1.31-acre site, 1180 Main is 100% leased to Chan Zuckerberg Initiative ("CZI"), an entity funded by 99% of Priscilla Chan and Mark Zuckerberg’s shares of Meta (S&P: AA-) for 12.0 years (exp. 06/2036). CZI recently consolidated its real estate footprint and transitioned its employee base to 1180 Main, which serves as its new global headquarters. Constructed in 2022, 1180 Main boasts superior finishes, premier on-site amenities, and subterranean parking. The Property is prominently located in Downtown Redwood City, which offers ease of access via US-101, El Camino Real, and Caltrain as well as an “urban suburban” experience given the surrounding major tenancy: Box, Riot Games, and Bessemer Venture Partners. Moreover, the Property offers assumable in-place debt at an accretive rate of 3.493%, which is highly attractive in today's debt markets.


1180 Main presents a generational opportunity to acquire a new construction, trophy office asset with assumable, in-place debt in one of the world’s top performing and highly coveted submarkets.

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Attributes

Building area net
126,737 sf
Occupancy
100%
Year built
2022

Media

Investment highlights

  • New-construction, trophy office asset 100% leased to CZI in the preeminent submarket of Downtown Redwood City
  • World class interiors with substantial tenant investment
  • Brand new, best-in-class office asset with superior finishes and subterranean parking
  • 12.0 years of lease term including 3% annual increases
  • CZI recently consolidated its real estate footprint and transitioned the global HQ to 1180 Main
  • Accretive in-place debt with assumable 3.493% rate, highly attractive in today's debt markets
  • "Urban suburban" Downtown Redwood City amenities

Contact brokers

1180 Main (0 Properties)

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Last updated
Apr 2, 2024