BURLINGAME, Calif.--(BUSINESS WIRE)--Cushman & Wakefield (NYSE: CWK) has announced that Burlingame Point, a brand new approximately 803,000-square-foot (sf) office campus currently under construction in Burlingame, California, has finalized an agreement with Facebook to lease the entire project. Situated on 18.13 acres on the edge of the San Francisco Bay, Burlingame Point is a best-in-class office development by Kylli, a wholly-owned subsidiary of China-based Genzon Investment Group Co., Ltd.
Facebook first publicly announced the lease was in negotiations to the City of Burlingame Planning Commission in August and the lease was fully executed shortly thereafter in the fourth quarter of 2018. Mike Moran and Clarke Funkhouser of Cushman & Wakefield represented Kylli in the transaction. JLL represented the tenant.
Moran said, “We couldn’t be more excited that one of the world’s leading technology firms has selected Burlingame Point to expand their Northern California footprint. This is a testament that strong design elements do make a difference to the discerning tenant.”
Burlingame Point will execute on the City of Burlingame’s intent to activate their waterfront. In addition to four new Class A office buildings with bay views, the project will include public amenities such as an improved Bay Trail, a vibrant pedestrian promenade, and a safer roadway for cyclists and motorists. Fisherman’s Park also receives a facelift as a result of the project.
Funkhouser said, “Now that construction is well underway, it is more evident that this project will be an exceptional example of the forward-thinking of both Kylli and their world class team of partners.” He added, “Believed to be one of the largest lease transactions ever on the San Francisco Peninsula, the project scale, location and quality were all factors that helped to solidify this lease.”
Expected to open in 2020, Burlingame Point is the first Class A office campus developed by Kylli in the Bay Area. They also own 225 Bush in San Francisco (former Standard Oil Building) and 43 acres in Santa Clara currently going through re-entitlement for a very large mixed-use office, retail and residential development.
Source: Cushman & Wakefield
Kylli Inc. was established in October 2013 in California, as a wholly-owned subsidiary of Genzon Investment Group Co., Ltd., Kylli carries an important mission to direct Genzon’s investment in the San Francisco Bay Area. Kylli focuses on investment, development and management of institutional quality assets in the United States. Additional Bay Area properties owned by Kylli include 225 Bush in San Francisco and 3005 Democracy Park in Santa Clara. Genzon is a privately-held full service investment company headquartered in Shenzhen, China, with diverse expertise and experience in developing and managing a variety of building types, such as high-rise offices, technology campuses, residential projects, hotels, and golf resorts.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.