Woodstock Development Acquires Ladera Professional Center in Portola Valley, Calif. for $40.35 Million - CBRE
2021 년 12 월 22 일
Located at 3200-3280 Alpine Road, the 23,420 square-foot property was originally built in 1964 on a 2.66-acre site. The asset is comprised of seven single-story buildings that are fully leased to six tenants.
“Ladera is a legacy asset for Woodstock’s portfolio,” said Woodstock Development’s President Kirk Syme. “We love the Portola Valley location, proximate amenities and services, and quality tenant profile. This will be a nice complement to our other office investments in Downtown Redwood City, San Mateo and Burlingame.”
Charlie Strouss, Jonathan Ziegler, Yvonne Hsiung, Bob McSweeney and Todd Husak of CBRE’s Palo Alto office represented the seller, a private family investor.
“The barriers to entry in the Portola Valley office market are extremely high and we rarely see assets of this caliber trade,” said Mr. Strouss. “This property benefits from the area’s strong demographics, low inventory of office product and proximity to many of the Bay Area’s most prominent cities.”
Ladera Professional Center is less than one mile from I-280 which connects Portola Valley to the rest of the San Francisco Bay Area. It is four minutes to Sand Hill Road, five minutes to Stanford and proximate to four of the five cities ranked by income in the San Francisco Peninsula and Silicon Valley. The asset is located approximately 35 miles south of San Francisco and 20 miles northwest of San Jose.