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January 12, 2021 Comments Off on Graymark Claims Palo Alto Site Eyed for Life Science, Alternative Tech Conversion Views: 627 Bay Area, California News

Graymark Claims Palo Alto Site Eyed for Life Science, Alternative Tech Conversion

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San Francisco-based Graymark Capital acquired a vacant single-story office/R&D asset in Palo Alto, reportedly for $15.7 million in the San Jose Mercury News, with plans to reposition the two-building 24,000-square-foot property into a life sciences-focused facility. The flexible design will equally accommodate emerging sectors such as automotive tech, food tech and/or robotics/artificial intelligence.

Located at 3960-3980 Fabian Way, the asset was recently vacated by a medical device company building a digital surgery platform. Graymark will be making a multi-million-dollar capital investment in the Silicon Valley property to complete the conversion.

Cushman & Wakefield’s Kalil Jenab, Ben Paul and Steven Jenab represented the buyer. The unnamed seller was represented by Stetson Earhart’s Brad Martin.

Paul says, “Graymark’s plans for this strategic location come at the right time and will fulfill a critical need for market-ready and flexible lab space deliverable very soon. Demand is now a four-legged table and Graymark will meet that demand.”

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