April 24, 2018 Comments Off on Harvest, Cerberus Acquire Daly City’s DC Station for $114M Views: 2562 Bay Area, California News

Harvest, Cerberus Acquire Daly City’s DC Station for $114M

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Emeryville, CA-based Harvest Properties and an affiliate of Cerberus Capital Management, L.P. acquired DC Station, a 383,000-square-foot office property located in Daly City, CA from Deutsche Asset & Wealth Management for $114.5 million. The nine-story, LEED Silver certified, multi-tenant office building was built in 2001. The deal did not include the adjacent retail and movie theater.

Harvest Properties’ John Winther says, “We are excited to complete our first transaction with global investment leader Cerberus. Both Cerberus and Harvest see this as an opportunity to acquire a high-quality property at a compelling price and, ultimately, add value through thoughtful leasing activity as we capitalize on the changing demand drivers in the area.”

The property at 2001-2051 Junipero Serra Blvd. features large floor plates with high ceilings and expanded window lines. It also includes a seven-level parking garage, and is located directly off Interstate 280, adjacent to the Daly City BART Station.

Read more at Harvest Properties

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