The Douglas Living Trust Acquires Palo Alto Office Building For $58M

The Douglas Living Trust has acquired a 30,000 square foot office building located at 2555 Park Boulevard in Palo Alto. The transaction was facilitated by Kenneth Fong of Kenson Ventures. The office building sits on a 0.33-acre plot of land and is valued at $58 million. The purchase price equates to $1,933 per square foot, indicating a high price tag for the property.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $58,000,000
• Square Footage: 30,000
• Address: 2555 Park Boulevard
• Market: Palo Alto
• Buyer: The Douglas Living Trust
• Seller: Kenson Ventures - Kenneth Fong
• Buyer's Representative: Alison S. Telleen - Loeb & Loeb LLP

This transaction indicates the Douglas Living Trust's interest in acquiring office space in Palo Alto. Despite the availability of sublease options, the trust's significant investment suggests possible plans of occupying the property in the future.