Two OC-based institutional real estate investment managers swapped a 112k SF flex office campus at 800‑890 Dubuque. Buchanan Street Partners acquired the three‑building property from an affiliate of LBA Realty for $25.8M, Bisnow has exclusively learned. The plan is to do a major interior and outdoor reno to appeal to flex users and life science tenants. On the to-do list: improve tenant suites with lab stations, on a spec turnkey basis and in TI packages. Buchanan president Tim Ballard told Bisnow about the California shopping spree it's been on this year.
South San Francisco Business Center is made up of two single‑story buildings and one two‑story building, with 35% lab and R&D space. Buchanan also plans to modernize suite entryways, add new campus and suite signage, update the landscaping and reskin the building façades. The development is currently a mix of biotech, nonprofit and technology companies. JLL repped the seller, and Buchanan Street repped itself. Fun fact: Buchanan Street Partners was named after Buchanan Street in S.F. (where their first office was), and this is a start of getting back to its NorCal roots.
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