6,500 SF Value-Add Office
- Acquired July 2019.
- Property was 100% leased at time of acquisition with several tenants with below market leases that roll in the near term of hold period. Business plan is through selective capital to reposition to maximize long-term cash flow of the asset in an irreplaceable Palo Alto location. Sold February 2022 to private buyer.
- Located in Midtown Palo Alto between Embarcadero and Oregon Expressway surrounding by retail amenities and restaurants with easy access to Hwy 101, Hwy 280 and California Ave Caltrain / retail cores. Additionally, the building is next door to Midtown Realty Company that was founded by Silicon Valley real estate tycoons John Sobrato and Carl Berg before starting their respective separate firms, The Sobrato Organization and Mission West.