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Jesse Blout And Michael Cohen Of Strada Investment Group Acquire Life Sciences Building For $29M
SOLD
$29,000,000
California
See Similar DealsLife Sciences60,000 SF
Sold 12/19/2025
SOLD
Jesse Blout And Michael Cohen Of Strada Investment Group Acquire Life Sciences Building For $29M
3350 West Bayshore Road
See Similar DealsLife Sciences60,000 SF
Sold 12/19/2025
Summary
CALIFORNIA
Asset Type:Life Sciences
Price Per Square Foot:$483
Total Square Footage:60,000 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,546,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,030.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,474.80
Annual Debt Service$1,649,697.54
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