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Cyrus Sanandaji Of Presidio Bay Ventures Acquires Former USGS Campus In Menlo Park For $137M

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SOLD
$137,000,000

California

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Office
Sold 04/16/2025
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SOLD

Cyrus Sanandaji Of Presidio Bay Ventures Acquires Former USGS Campus In Menlo Park For $137M

345 Middlefield Road

See Similar Deals
Office
Sold 04/16/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Office
Transaction Type:Sale

The property asset involved in the transaction is an office located at 345 Middlefield Road in Menlo Park. The sale price for this asset was $137,000,000. The site encompasses 17 acres and previously served as the former USGS campus.

Summary of transation details:

  • Property Type: Office
  • Transaction Amount: $137,000,000
  • Buyer: Cyrus Sanandaji
  • Buyer's Company: Presidio Bay Ventures
  • Previous Bidder: City Ventures with a bid of $120,000,000
  • Market: Menlo Park
  • Note: Sale awaits DOJ antitrust review and is viewed as an opportunity for affordable housing goals in Menlo Park.

Cyrus Sanandaji, representing Presidio Bay Ventures, won the sealed-bid auction for the property, successfully outbidding City Ventures. The outcome of the auction positioned Presidio Bay Ventures favorably in the competitive landscape of property acquisition in the area.

Players

CS
Cyrus Sanandaji
3 deals$176.8M volume
BUYER

Details

SOLD
IMAGE: Cyrus Sanandaji DATE: 04/16/2025 ADDRESS: 345 Middlefield Road MARKET: Menlo Park ASSET TYPE: Office BUYER: Cyrus Sanandaji - Presidio Bay Ventures SALE PRICE: $137,000,000 NOTE: Presidio Bay Ventures won the sealed-bid auction for the former USGS campus at 345 Middlefield Road in Menlo Park with a $137M offer, outbidding City Ventures’ $120M bid. The 17-acre site sale now awaits DOJ antitrust review and is seen as a key opportunity for Menlo Park to meet affordable housing goals.

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