August 16, 2016
Palo Alto-based Menlo Equities’ 1.2-million-square-foot office campus in Santa Clara, CA is reportedly being put up for sale next month. The asset for sale is the second phase of a property owned in a venture with Boston-based Beacon Capital Partners.
The property, located at 3333 Scott Blvd., includes a 250,000-square-foot, six-story building leased to Hewlett-Packard. There’s also three eight-story office buildings, totaling 940,000 square feet, that are fully leased to Palo Alto Networks, as well as a 40,000-square-foot wellness center.
The assets could be sold together or divided up. Recent comps traded in the $465-per-square-foot range.
Eastdil Secured’s Jeff Weber and and Greg Cioth will handle the sale.
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