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San Mateo, Calif., office complex sells for $320M

Diamond Investment Properties purchased a two-building office complex in San Mateo, Calif., for $320 million, the San Francisco Business Times reported, citing brokerage firm Newmark Knight Frank.

A joint venture of Pearlmark Investment Co. LLC and Hines sold the 306,000-square-foot complex at 400-450 Concar Drive.

Coworking company WeWork Cos. Inc. has leased 96,000 square feet at the property, while software-maker Medalia is subleasing 210,115 square feet to cloud data warehouse company Snowflake Computing Inc., according to the report.