San Mateo, CA

405 E 4th Ave

"Pumped Up"

Posted In — Success Stories |

Sold together to increase developer interest & sale price


Over the expected sale price

±63K SF

To a full building tenant before new building was even constructed


Two adjacent property owners had owned and operated businesses from their properties for decades: one a gas station and the other an auto repair facility. Their properties, however, were of development size and were ideally located to take advantage of the developer appetite for Caltrain centric locations for new office buildings. We approached two owners with the idea that by selling the properties together as a combined offering, the properties would be large enough to justify a major office/residential development and they would receive a premium from the buyers if they combined their efforts. By combining and selling to a developer, the owners would pump up their sale price because the developer would be able to unlock density for the combined site.

We then created a marketing campaign to emphasize its development potential and targeted well-known developers with experience building on the Peninsula. After receiving multiple offers, we used this competition to negotiate the best terms to meet the sellers’ goals.


The sellers achieved a 25% premium over the expected sale price by combining their small parcels. Once the property sold, we were then hired by the buyer to market the property for lease. We coordinated a multi-level marketing campaign and secured a full building tenant to lease all ±63K SF shortly after receiving building permits. All of this was done before construction of the new building even began.

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