January 15, 2019 – Cushman & Wakefield announced today that Burlingame Point, a brand new approximately 803,000-square-foot (sf) office campus currently under construction in Burlingame, California, has finalized an agreement with Facebook to lease the entire project. Situated on 18.13 acres on the edge of the San Francisco Bay, Burlingame Point is a best in class office development by Kylli, a wholly-owned subsidiary of China-based Genzon Investment Group Co., Ltd.
Facebook first publicly announced the lease was in negotiations to the City of Burlingame Planning Commission in August and the lease was fully executed shortly thereafter in the fourth quarter of 2018. Mike Moran and Clarke Funkhouser of Cushman & Wakefield represented Kylli in the transaction. JLL represented the tenant.
Moran said, “We couldn’t be more excited that one of the world’s leading technology firms has selected Burlingame Point to expand their Northern California footprint. This is a testament that strong design elements do make a difference to the discerning tenant.”
Burlingame Point will execute on the City of Burlingame’s intent to activate their waterfront. In addition to four new Class A office buildings with bay views, the project will include public amenities such as an improved Bay Trail, a vibrant pedestrian promenade, and a safer roadway for cyclists and motorists. Fisherman’s Park also receives a facelift as a result of the project.
Funkhouser said, “Now that construction is well underway, it is more evident that this project will be an exceptional example of the forward-thinking of both Kylli and their world class team of partners.” He added, “Believed to be one of the largest lease transactions ever on the San Francisco Peninsula, the project scale, location and quality were all factors that helped to solidify this lease.”
Expected to open in 2020, Burlingame Point is the first Class A office campus developed by Kylli in the Bay Area. They also own 225 Bush in San Francisco (former Standard Oil Building) and 43 acres in Santa Clara currently going through re-entitlement for a very large mixed-use office, retail and residential development.