TIAA-CREF Buys Menlo Park Office Building for $50M
Address: 200 Middlefield Road, Menlo Park, CA
Seller: Menlo Equities
Buyer: TIAA-CREF
RBA SF: 41,466 SF
Lot size: 2.04 AC (88,862 SF)
Selling price: $50,025,000 ($1206.41/SF)
Type: Office
This is one of the highest $/SF deals that has occurred, showing that institutional investors are willing to set the high water mark with the amount of competition in the market. The property was fully renovated in 2013 and was 100% leased at time of sale.
The Peninsula Industrial Pros 