Updated Dec 4, 2024
Morgan Stanley Acquires Menlo Park Office For $68M With Newmark As The Broker
321 Middlefield Road
$68,000,000
$1,520/SF
Building Size
44,719 SF
Asset Type
Office
Closing
Jan 5, 2023
About this deal
AI
Morgan Stanley has acquired an office property located at 321 Middlefield Road in Menlo Park. The property, totaling 44,719 square feet, was sold by Pollock Financial Group for a price of $68,000,000. The sale price comes out to approximately $1,521 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $68,000,000
- Address: 321 Middlefield Road, Menlo Park
- Market: Menlo Park
The transaction was facilitated by the brokerage team from Newmark, represented by Steven Golubchik, Edmund Najera, Jonathan Schaefler, Jesse Millman, and Darren Hollak.
With this acquisition, Morgan Stanley expands its real estate portfolio and strengthens its presence in the Menlo Park market.
Players
Menlo Park Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93