WP Investments Buys San Carlos Property for $19.5MM
Woodside-based WP Investments has paid $19.5 million, or $269 per square foot, to acquire the 72,340 square foot Bayside Business Center in San Carlos. The mixed use property has office, retail and industrial uses on site, and is is located at 1121-1125 Industrial Road.
This is not the buyer’s first transaction in the Peninsula city. WP Investments had made two other investments in San Carlos. “This is our third acquisition in the city of San Carlos in recent years. We were attracted to the 3 building mix of retail, office and light industrial buildings, due to its visibility from the 101 Freeway, the rapidly changing neighborhood (which includes a variety of new/planned retail, office, hospital, hotel developments) and the opportunity to improve the buildings to lease up the remaining vacancy of approximately 11,000 square feet,” said Bruce Isackson, a principal with WP Investments.