March 3, 2017
San Francisco-based DivcoWest sold 700-900 Concar Dr., a 210,000-square-foot office campus in San Mateo, CA to Rakuten Marketing for roughly $180 million. The technology company occupies space in the 800 Concar Dr. building.
The three-building, 2003-vintage, Class A office campus is in the Central Peninsula. The campus includes one one-story building and two five-story buildings. The asset had been owned by DivcoWest’s value-add commingled fund, DivcoWest Fund IV. The investment manager acquired the property for $130.6 million in 2014.
Rakuten Marketing, part of Tokyo-based Rakuten Inc., is an affiliate marketing network that enables brands to increase sales through data-driven outreach.
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