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August 12, 2022
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NORTHERN CALIFORNIA NEWS
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Silicon Valley Office Asset Sells for Over $1,100/sf

5/27/22

In a Silicon valley office trade, 250 Cambridge, a three-story, 34.6k sf transit-oriented office building in Palo Alto, sold for $39.3 mil, or $1,136/sf. The property includes a 29-stall on-site parking garage. Current ownership has designed a best-in-class renovation which is pending approval from the planning commission, compressing the timeline for delivery to market.

Situated in the heart of Palo Alto’s California Avenue corridor, 250 Cambridge is a five-minute drive from Stanford Research Park, a leading life science and technology cluster with tenants such as VMWare, Guardant Health, Kodiak Bioscience, Tesla and SAP. The property offers direct access to Caltrain and has easy access to a range of different retail amenities including Mollie Stone’s Market, The Counter, Zombie Runner Espresso, Palo Alto Sol, Pizz’a Chicago, Starbucks and Chipotle.

The seller was Tarlton Properties Inc, and the buyer was 250 Cambridge LP. Newmark. Steven Golubchik, Seth McKinnon, Jonathan Schaefler and Darren Hollak with Newmark facilitated the transaction. The seller was Tarlton Properties Inc, and the buyer was 250 Cambridge LP. Newmark’s Ramsey Daya and Chris Moritz arranged the acquisition financing with a regional bank.





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