February 1, 2016
Seagate Properties, Inc. has reportedly partnered with RGA Real Estate Investors, LLC. to acquire The Atrium in San Mateo for $61.6-million. The 90-percent occupied, 163,791-square-foot building is located at the intersection of Highway 101 and 92. Included in the purchase is a .9-acre development site.
Prometheus Real Estate Group, which originally developed the property in 1983, plans to remain a tenant at its HQ location. The three-story aluminum and glass-clad office building is designed around an open-air atrium. The recently-renovated space serves as a central gathering area for tenants, complete with wifi, new hardscape, and modern furniture.
Cushman & Wakefield’s Steve Hermann, Eric Fox and Bob Gilley represented the seller in the transaction. Seagate and RGA were self-represented.