550 Allerton, a downtown Redwood City office property, changed hands in an acquisition by Shorenstein Investment Advisers, a San Francisco firm that owns and operates office, residential and mixed-use assets across the Bay Area. The company disclosed no purchase price, cap rate, or square footage. Shorenstein positioned the deal as part of a growing portfolio of Bay Area office assets it describes as high-quality.
The asset and the transaction
The acquisition was announced July 16, 2026. Shorenstein Investment Advisers is the acquiring entity. No seller was identified in the company's announcement. 550 Allerton sits in Downtown Redwood City, on the San Francisco Peninsula. No other financial terms were made public.
Shorenstein's Bay Area office portfolio
Shorenstein Investment Advisers operates across office, residential and mixed-use property types. The company's stated focus here is its Bay Area office collection. Adding 550 Allerton extends that portfolio, per the firm's own characterization of the deal. No total asset count, portfolio valuation, or occupancy figures were provided in the announcement.
Source: Shorenstein Investment Advisers press release, July 16, 2026. No financial terms were disclosed; this article contains only figures and facts present in the source.