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10/03/16
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A local real estate investor paid $18.7 mil for 2500 Faber Place, a 32.8k sf ($570/sf) office building in Palo Alto. The building was sold by San Francisco-based Drawbridge Realty.
The two-story life science building, located just off Hwy 101, is 100% leased to Centrillion Technologies. The property, originally built in 1982, was recently renovated and features highly functional laboratory space, including clean rooms, chemistry and biology labs, and significant power desired by biotechnology users.
Scott Prosser, Joe Moriarty, Seth McKinnon and Jack DePuy of CBRE represented Drawbridge on this transaction.
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