Updated Oct 28, 2024
Alexandria Real Estate Acquires Office Building In Palo Alto For $446M
3301 Hillview Avenue, Palo Alto, California 94304, United States
$446,000,000
$1,527/SF
Building Size
292,000 SF
Asset Type
Office
Closing
Jan 10, 2022
About this deal
AI
The property asset involved in this transaction is an office located at 3301-3307 Hillview Avenue in Palo Alto. The property has a total area of 292,000 square feet. The sale took place on January 10, 2022, and the buyer of the property was Alexandria Real Estate. The sale price for the property was $446,000,000, resulting in a price per square foot of $1,527.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $446,000,000
- Address: 3301-3307 Hillview Avenue
- Market: Palo Alto
- Buyer: Alexandria Real Estate
- Size: 292,000 square feet
- Price per Square Foot: $1,527
The sale of this office property was made to Alexandria Real Estate. Their acquisition of the property signifies their expansion in the Palo Alto market. Joel S. Marcus is the representative for the buyer in this transaction.
On the Map
$446,000,000
$1,527/SF
Office
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Palo Alto 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93