Shorenstein Acquires 550 Allerton in Downtown Redwood City

Acquisition Expands Shorenstein's Growing Portfolio of High-Quality Bay Area Office Assets

SAN FRANCISCO, July 16, 2026 /PRNewswire/ -- Shorenstein Investment Advisers ("Shorenstein" or the "Company"), an owner and operator of high-quality office, residential and mixed-use properties across the U.S., today announced the acquisition of 550 Allerton, a 76,649-square-foot Class A office building in Downtown Redwood City, California (the "Property").

Completed in 2018, 550 Allerton is a six-story Class A office building situated in Downtown Redwood City. The Property features modern office space designed for the needs of today's tenants, along with convenient subterranean parking.

550 Allerton is located in the heart of Downtown Redwood City, one of the Peninsula's premier office submarkets. In addition to its central location, the Property is steps away from the city's Caltrain station and offers immediate access to the area's retail and restaurant amenities. The submarket has drawn a concentration of law firms, venture capital and other financial and professional services tenants willing to pay a premium for the location, and continues to face significant barriers to new supply given its infill footprint.

"Downtown Redwood City remains one of the Bay Area's best-performing and most supply-constrained office markets, and we're thrilled to acquire 550 Allerton, a premier asset in the submarket," said John Boynton, Managing Director at Shorenstein. "With strong fundamentals driving sustained demand for high-quality office space, we look forward to leveraging 550 Allerton's central Peninsula location, accessibility and amenity base to continue attracting high-quality tenants over time."

The acquisition further expands Shorenstein's presence in Northern California and reflects the firm's continued focus on acquiring institutional-quality office assets in premier submarkets with durable cash flow and long-term growth potential. As a vertically integrated owner and operator, Shorenstein plans to leverage its operating platform and high-touch service model to lease the remaining available space, enhance the tenant experience and maximize the property's long-term performance.

About Shorenstein
Shorenstein is a privately-owned investment adviser that, through affiliated entities, owns and operates high-quality office, residential and mixed-use properties across the U.S., with offices in San Francisco and New York. Since 1992, Shorenstein and its affiliates have acquired $20.3 billion in assets (as of December 31, 2025). Using their integrated investment and operating capabilities, the firm seeks to take advantage of opportunities that, at the particular time in the investment cycle, offer attractive returns. Investments have included ground-up developments, asset repositioning and stabilized assets; investment structures have included asset acquisitions, mezzanine loans, preferred equity investments and structured joint ventures. More information is available at www.shorenstein.com.

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SOURCE Shorenstein Properties LLC