Barings acquires Peninsula Innovation Point

Barings has acquired a 275,746-square-foot office campus with a waterfront location on the San Francisco Peninsula at 555-577 Airport Blvd. in Burlingame, Calif.

This campus will be converted and developed into a 536,001-square-foot project including specialized science and technology focused office and lab buildings, and rebranded as Peninsula Innovation Point.

Peninsula Innovation Point provides Barings with multiple execution strategies to maximize the portfolio of assets' value proposition. The campus consists of three components — an existing 126,419-square-foot office building that will be converted to either life science or specialized technology space, a pad to develop 260,255 square feet of specialized lab and tech-oriented office space, and a 149,327-square-foot office building that will undergo improvements to drive further appreciation.

The San Francisco Bay Area life science market is the second largest in the United States, behind Cambridge, Mass