Updated Oct 29, 2024
Alexandria Real Estate Equities Acquires Office Property From Stanford University In Palo Alto For $115M
3181 Porter Dr, Palo Alto, CA 94304, USA
$115,000,000
$1,150/SF
Building Size
100,000 SF
Asset Type
Office
Closing
Aug 9, 2020
About this deal
AI
Alexandria Real Estate Equities has acquired an office property in Palo Alto from Stanford University for approximately $115,000,000. The property, located at 3181 Porter Dr, spans 100,000 square feet, resulting in a price per square foot of $1,150.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $115,000,000 (approx.)
- Address: 3181 Porter Dr
- Market: Palo Alto
Alexandria Real Estate Equities, represented by Joel Marcus, completed the transaction with Stanford University as the seller. Joel Marcus acted as the buyer's representative in this deal.
On the Map
$115,000,000
$1,150/SF
Office
View full map
Palo Alto Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Joel S Marcus to view all their deals.
Browse California office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93