Barings has put its approximately 537,000-square-foot Peninsula Innovation Point office and lab campus on the Burlingame waterfront up for sale this month.

The Charlotte, North Carolina-based investment firm is marketing the property at 555-577 Airport Blvd., The Registry first reported Oct. 8.

The 12.8-acre property sits along the Sanchez Channel, across from Meta's campus and visible from Highway 101. Barings bought it for $170 million in July 2021 from a joint venture between EverWest Real Estate Investors and Partners Group. At the time, the campus had two office buildings totaling about 276,000 square feet.

Barings and co-developer Lane Partners then expanded the site with a new eight-story, 241,679-square-foot lab and office tower at 567 Airport Blvd. A $314 million construction loan financed the project, according to The Registry. Devcon Construction served as general contractor, and DES Architects designed the building, which was completed in August 2024, according to Lane Partners.

The new tower stands 144 feet tall, averages about 30,000 square feet per floor and includes terraces on the third, fifth and seventh floors. It is all-electric and described by Lane Partners as LEED Gold certified, with enhanced infrastructure for lab tenants. A separate 317,042-square-foot parking structure with 1,520 spaces was also built, according to Devcon Construction.

Newmark is handling the sale, according to The Registry. No asking price has been disclosed in the available reporting.

The listing arrives at a difficult moment for Peninsula lab and office space. Lab vacancy on the San Francisco Peninsula sits near 31%, according to The Registry. Meta signed a long-term lease for the entire campus in November 2021, according to Lane Partners, although its current occupancy has not been independently confirmed.

Other companies are expanding in Burlingame. Robotics startup Bright Machines announced plans in August 2026 to relocate its headquarters to a nearly 60,000-square-foot Burlingame space and move about 80 employees there, the Silicon Valley Business Journal reported.

Barings described the property as an investment in Burlingame's growing technology and life sciences market when it announced the acquisition in July 2021.

No timeline for a sale has been announced in the available reporting.