July 16, 2020 Comments Off on Pulte Picks Up Former San Mateo Office Park for $106M, Plans New Development Views: 477 Bay Area, California News

Pulte Picks Up Former San Mateo Office Park for $106M, Plans New Development

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An 11-acre parcel between San Francisco and the Silicon Valley was purchased by Pulte Homes for redevelopment into One 90, a residential neighborhood of 190 homes. Public records list the sales price at $106 million for the site in San Mateo. The seller was Strada Investment Group.

The property, formerly an under-utilized office complex known as Waters Technology Park, was built in 1979. The site is fully entitled for four neighborhoods featuring a mix of two-story detached single-family homes, as well as three-story townhomes, four-story rowhomes and condo-flats.

The Hoffman Company’s Cameron Fowler, who brokered the transaction, says, “This is easily the largest real estate deal of the year for new residential for-sale product in the supply constrained market of the San Francisco Peninsula. The developer and seller, Strada Investment Group, did a fantastic job creating a project that offers a wide selection of housing types curated to create a unique sense of place throughout the community.”

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