Calif.: Hines, Pearlmark Announce New Office Project

450Concar

In San Mateo, Calif., Hines, the Houston-based real estate firm, has laid out plans for a new office building in California.

Hines and Pearlmark, a Chicago-based private-equity real estate investment firm, have partnered with Goldman Sachs for the capitalization of 400|450 Concar in San Mateo. JPMorgan will serve as the construction lender.

400|450 Concar will be a new office complex totaling 305,000 sq ft on 3.3 acres. Designed by Form4, Inc. 400|450 Concar is LEED pre-certified Platinum and will deliver a superior design and efficiency for the market.

“400|450 Concar will set a new standard for San Mateo’s Class A space, with its combination of distinctive architecture and all the features of state-of-the-art office space in an irreplaceable location,” said Hines Senior Managing Director Cameron Falconer. “This property represents a unique opportunity to capitalize on substantial tenant demand for new office product in San Mateo County.”