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Belvedere Place in Marin Closes for $46.75MM

January 10, 2017

The Registry

Mill Valley, CA —Representing one of Marin County’s most significant sales of 2016, Newmark Cornish & Carey completed the sale of the 103,000-square-foot Belvedere Place. A partnership entity formed between privately-held real estate merchant bank ScanlanKemperBard (SKB) and privately-held investment advisor Angelo, Gordon & Co. (Angelo, Gordon) purchased the Class A office property from Bently Holdings.

An aerial view of the Belvedere Place office complex surrounded by green rolling hills.

“We are pleased to add Belvedere Place to our portfolio of premium properties,” said John Olivier, senior vice president of SKB. “Belvedere Place perfectly complements our Novato office complex, Hamilton Landing – we now hold both Southern and Northern Marin’s most prestigious properties where we can best support cutting-edge companies.”

Constructed in 2000, Belvedere Place is Southern Marin’s newest office building featuring creative space with exposed ceilings, operable windows, a zen garden and covered parking. SKB and Angelo, Gordon plan to further enhance the property by updating the exterior of the buildings, augmenting the landscaping with outdoor shared gathering spaces and constructing a gym complete with showers, lockers, bike lockers and bike storage.

At the time of sale, Belvedere Place was 60 percent leased. Recently, global financial services firm UBS leased 7,000 square feet at the property and Merrill Lynch Wealth Management renewed its 18,000-square-foot lease.

“Featuring thoughtful architecture combined with the highest quality finishes, Belvedere Place is Southern Marin’s most innovative place to do business,” said Haden Ongaro, a Newmark Cornish & Carey executive vice president who represented both parties in the sale together with Mac Cranford and Mark Carrington. The team also represents the property for lease.

Located at 1 and 2 Belvedere Place in Mill Valley, the property is adjacent to Strawberry Village, Marin’s “buy local” shopping haven where shopping, dining and services abound. Belvedere Place features excellent freeway visibility off of Highway 101 and is just a 20-minute drive from downtown San Francisco.