Cushman & Wakefield’s Gary Boitano, Ryan Venezia, Steve Herman, Jack Depuy, Seth Siegel, Scott Prosser and Courtney Trunnell represented both the seller, Monday Properties, and the buyer, SC Properties, in the transaction, in partnership with JLL’s Clarke Funkhouser.
"We are thrilled to have facilitated the sale of 1840 Gateway, a prime Class A office building in the heart of San Mateo," said Boitano. "The San Francisco Peninsula is a region known for its dynamic business environment and strategic location. The significant capital improvements and the building's potential for future redevelopment make it an attractive investment for SC Properties. We are confident that their local expertise and commitment to enhancing properties will bring substantial value to the community."
“As a locally focused organization, we take great pride in enhancing properties and contributing meaningful value to the community. Participating in the rapidly growing office leasing market is both exciting and aligned with our strategic vision. In just one year since acquiring the adjacent property at 1800, 1810 and 1820 Gateway, we have made significant strides in both renovation and overall leasing efforts. The addition of 1840 Gateway to our portfolio represents a natural and strategic extension of our operations,” said Kevin Phillips, Partner, SC Properties.
1840 Gateway is a four-story office building featuring highly improved creative interior finishes, an extensive glass line and a recently renovated gym facility with showers. Approximately 75% of the building's square footage is finished as high-end creative space, including renovated restrooms and polished concrete floors. The property also boasts a multi-story glass-enclosed lobby and offers flexible zoning that allows for potential redevelopment to residential use.
Located strategically at the intersection of Highways 101 and 92, 1840 Gateway provides excellent freeway identity and building signage opportunities, with significant visibility along one of the Bay Area's most heavily traveled routes. The property is surrounded by major Bay Area headquarters and offers convenient access to Caltrain, BART and San Francisco International Airport. Nearby amenities include the Hillsdale Shopping Center, a variety of dining options and recreational facilities, making it an ideal location for businesses seeking proximity to top talent and leading venture capital.