Industrial building occupied by Facebook sold with long-term NNN lease
REDWOOD CITY, CA – August 19, 2019 – NAI Northern California is pleased to announce the sale of 860 Charter Street in Redwood City, an industrial/office building occupied by Facebook, for $16 million. Armand Anicete represented the buyer of the property. The single-story building has a long-term lease with Facebook and will be extensively remodeled and renovated by the tenant. It is a true triple-net lease with no owner obligations, and has 4% annual increases in rent.
860 Charter Street comprises 24,431 square feet on a 48,648 square foot lot in an excellent location near Stanford Medical, 24 Hour Fitness, Broadway Plaza Development, Stanford Development, and other well-known amenities and credit tenants.
The buyer representative, Armand Anicete, has leased and sold over $200M in his professional career. He is actively working with a wide variety of investors, exchange buyers, and owner/users looking to acquire properties. He also has multiple off-market properties for sale in the San Francisco Bay Area.
About NAI Northern California
NAI Northern California is a full service commercial real estate firm serving the San Francisco Bay Area and beyond. Our team delivers technology-enabled commercial real estate services that create value for our clients, industry, and communities.
NAI Northern California is a partner of NAI Global, the largest commercial real estate brokerage network, with more than 375 offices worldwide and over 6,000 professionals completing in excess of $20 billion in commercial real estate transactions globally.
Recently on the San Francisco Business Times Book of Lists, NAI Northern California hit the top 5 and 6 spots in San Francisco and the East Bay and top 15 Bay Area wide. NAI Northern California is part of the NAI Global network, recently recognized by Lipsey as the number 4 most recognizable commercial real estate brand.