Burlingame sites are seized by the developer, could become a large campus

BURLINGAME — A shopping spree for Burlingame properties is now over $100 million and has seen a major Bay Area developer assemble a large chunk of land along the Peninsula Bay.

In the latest wave of purchases, DivcoWest paid $53.1 million for six packages on the Old Bayshore Freeway in Burlingame, documents filed March 16 with the San County Recorder’s Office show Mateo.

Still, these are just DivcoWest’s latest deals on this stretch of Old Bayshore, according to this news agency’s review of county property records.

Prior to this month’s purchases, DivcoWest spent $55.7 million over a period of August 2021 through January 2022 to purchase sites adjacent to the parcels just purchased.

A building at 1300 Old Bayshore Highway whose tenants include Caribbean Gardens Bar and Se Como Asi Taqueria.

That brings the total value of DivcoWest’s land deals along the Old Bayshore Freeway in Burlingame to $108.8 million, according to property records.

DivcoWest has weaved the properties together into a contiguous set of parcels that gives DivcoWest control over approximately 15 acres, based on information from county assessment maps.

The sites occupy a half-mile stretch off the Old Bayshore Highway and nearby waterfront.

Among the prominent businesses at the sites DivcoWest purchased over an eight-month period were Max’s of Burlingame Restaurant, Holiday Inn Express San Francisco Airport, Caribbean Gardens Bar and Se Como Asi Taqueria.

Certain office buildings, surface parking lots and certain vacant lots also occupy the sites now owned by DivcoWest.

Max’s of Burlingame restaurant (right) and Holiday Inn Express (center) at 1250 Old Bayshore Highway in Burlingame.

The deals serve as a reminder that major real estate players and tech titans are hungry for properties in San Mateo County as well as sites in Silicon Valley digital hubs in Santa Clara County.

DivcoWest has become an active player in Santa Clara County, San Mateo County and Alameda County.

On Jan. 7, the company paid $164.5 million for an office building in south San Francisco. On December 16, DivcoWest purchased an office building in the Ardenwood neighborhood of Fremont for $72.2 million.

In 2020, DivcoWest paid a jaw-dropping $610 million for an office campus on famed Sand Hill Road in Menlo Park.

In downtown San Jose, DivcoWest is also completing an extensive renovation of the former Bank of the West office building at 2 W. Santa Clara St.

At the newly purchased Burlingame sites on the Old Bayshore Highway, the location and nature of the properties could make the parcels attractive for redevelopment, especially with the involvement of a savvy developer such as DivcoWest.

Technology, biotechnology and life science companies have been keen to lease or buy office buildings and other sites on the peninsula and in the South Bay. Google, Apple, Facebook, LinkedIn, Amazon, Applied Materials, Fortinet and Intuitive Surgical are among the companies.