Dallas-based private REIT Behringer Harvard has bought a San Francisco office building for $44 million. 4440 El Camino Real, which is located just three miles away from Stanford University, is a three-story Class-A office building with roughly 97,000 sq. ft. of rentable space. This marks Behringer Harvard’s eighth California acquisition.
"El Camino Real presented us with an opportunity to buy an institutional-quality asset in a highly desirable and supply-constrained submarket," says Robert Behringer, chairman and CEO of Behringer Harvard. "This acquisition underscores our continued focus on geographic diversity within our investment programs."
The 6-year-old property is located on a 1.6 acres parcel. A two-story underground parking garage with more than 350 spaces and ample additional surface parking also serves the building. The building is 100% leased to Rambus Inc. (NASDAQ: RMBS), a microchip development firm.