Matthews Real Estate Investment Services completed the sale of The Clock Tower, an office building located at 20 Park Rd. in Burlingame. VP Marko Buljan facilitated the transaction.
The Clock Tower, spanning 6,815 buildable square feet, sold for $5,400,000, $650,000 above the listing price, achieving a 3.12% cap rate. Its prime location, within walking distance of downtown Burlingame, and strong market appeal attracted multiple offers, according to Matthews.
The buyer, Sazze Partners, a venture capital firm from South Korea, acquired the asset to establish a U.S. office.
“The transactions team efficiently managed multiple purchase contracts, and the marketing team developed exceptional materials that captured the attention of buyers worldwide,” Buljan said.
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