Alexandria Real Estate Acquires Office Building In Palo Alto For $446M

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.