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| 200 Middlefield Road, Menlo Park, CA |
SAN FRANCISCO, CA – HFF announced today that it has closed
the $50.025 million sale of 200 Middlefield Road, a 41,933-square-foot,
Class A office property in Menlo Park, California.
HFF
marketed the property on behalf of the seller, Menlo Equities. The asset was purchased for $50.025 million,
or approximately $1,193 per square foot.
200 Middlefield is located within walking distance to the
downtown Palo Alto retail core and is less than one mile from the Palo Alto and
Menlo Park Caltrain stations.
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| Steven Golubchik |
Originally
constructed in 1967, the property underwent a full rebuild in 2012. The two-story property is 100 percent leased
to a diverse mix of private equity and technology firms including Summit
Partners, Optum Soft, Blackstone and Rubicon.
The HFF investment sales team representing the seller was
led by managing director Steven Golubchik along with senior managing
director and co-head of HFF’s national office investment sales platform Michael
Leggett and director John Simerlein. HFF worked in conjunction with Cornish and Carey’s Kevin
Cunningham on the sales assignment.
”This sale represents a generational opportunity as it is
one of the few newly constructed buildings to come to market in the past 15
years in the submarket,” said Golubchik.
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| Michael Leggett |
“With a roster of
credit tenants, as well as the high-quality reconstruction and finishes
completed by Menlo, the property generated substantial interest from numerous domestic
and foreign investors.”
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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