NAI BT Commercial this week announced the sale of two San Francisco Bay Area properties for an aggregate sales price of more than $18.9 million.
In the first deal, NAI brokered the off-market investment sale of a 55,000-square-foot, six-story office building located at 851 Burlway Road in Burlingame. Mehrdad Elie, a private investor, paid $13 million, or $236 per square foot, for the property, which was sold by Westate Ventures.
In the second transaction, NAI represented the seller in the sale of a mixed-use building that includes 35 apartment units, two retail units, and one office unit located at 2109 Shattuck Ave. in downtown Berkeley. The site sold for just over $5.9 million. The residential mix consists of four studio units, 24 one-bed/one-bath units, three one-plus-bed/one-bath units, and one two-bed/one-bath unit.
A majority of the units were recently remodeled, while the building has undergone several significant improvements. The property is located one block from the U.C. Berkeley campus.
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