Updated Dec 30, 2025
Jesse Blout And Michael Cohen Of Strada Investment Group Acquire Life Sciences Building For $29M
3350 West Bayshore Road
$29,000,000
$483/SF
Building Size
60,000 SF
Asset Type
Life Sciences
Closing
Dec 19, 2025
About this deal
AI
Alexandria Real Estate Equities sold a life sciences building located at 3350 West Bayshore Road in Palo Alto. The property encompasses 60,000 square feet and was sold for $29 million, which equates to $483 per square foot. The facility is currently 73% leased.
Summary of transaction details:
- Property Type: Life Sciences
- Transaction Amount: $29,000,000
- Address: 3350 West Bayshore Road
- Market: Palo Alto
- Square Footage: 60,000
- Price per Square Foot: $483
- Buyer: Jesse Blout & Michael Cohen - Strada Investment Group
- Seller: Peter M. Moglia - Alexandria Real Estate Equities Inc
This transaction reflects Alexandria's strategy to divest from non-core life sciences assets amidst a trend of lower rental demand. The company aims to offload $1 billion in assets by the year 2027, having already completed $508 million in sales through October.
On the Map
$29,000,000
$483/SF
Life Sciences
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Players
Palo Alto Life Sciences Market Snapshot
Boundary boundary · Life Sciences · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93