ScanlanKemperBard (SKB) and Angelo Gordon have sold Belvedere Place, a three-story, Class A office complex located in Mill Valley, California.
The 104,544 rentable square foot property is centrally located, offering convenient access to San Francisco and other parts of Marin County.
Angelo Gordon and SKB purchased Belvedere Place in 2016 in an off-market transaction. The property was sold to GTIS Partners and Graham Street Partners in early August, 2019.
SKB and Angelo Gordon further improved the property by developing a premium amenity package, which included an on-site fitness center, electric vehicle charging and secured bike lockers. Through on-going tenant improvements and leasing efforts, SKB increased occupancy from 65% to 100%, and secured an impressive tenant roster. Tenants currently include Merrill Lynch, UBS, Redwood Trust, and WeWork, which occupied the first phase of its lease at Belvedere Place in early 2019. WeWork is also a tenant of two additional SKB-owned properties.
“We are honored to be part of the team that procured the right mix of amenities and tenants that resulted in a great rent roll and sales price per square foot in Marin County.” said Greg Scharlemann, SKB Senior Vice President.