Frank B. Holding Jr. Of First Citizens Bank & Trust Acquires Mixed-Use Building In Palo Alto For $82M

A mixed-use building located at 250 University Avenue in downtown Palo Alto has been sold for $82,000,000. The property encompasses 41,400 square feet, leading to a price per square foot of $1,981. The seller of the property was Inspire Real Estate Holdings, which is based in Florida.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $82,000,000
• Address: 250 University Avenue
• Market: Palo Alto
• Square Footage: 41,400
• Price Per Square Foot: $1,981
• Buyer: Frank B. Holding Jr. - First Citizens Bank & Trust
• Seller: Inspire Real Estate Holdings

Frank B. Holding Jr., representing First Citizens Bank & Trust, acquired the property from Inspire Real Estate Holdings. This transaction reflects notable involvement from both the buyer's financial institution and the seller's real estate holdings.