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Drawbridge Realty Sells Palo Alto Building For $52 Million

DRAWBRIDGE REALTY SELLS PALO ALTO BUILDING FOR $52 MILLION

Palo Alto, CA - November 29, 2016 - Drawbridge Realty, a San Francisco based real estate investment company, announced today the disposition of 950 Page Mill Road Palo Alto, CA for $52 million to Sand Hill Property Company. The 71,409 sq. ft. two-story office building is located in the world-renowned Stanford Research Park and is 100% leased to the law firm, WilmerHale, through September 2020. Prominently situated on Page Mill Road, the property provides tenants with high visibility, walkable amenities along Palo Alto's historic California Avenue, and ease-of-access to the Caltrain rail system. The property was built in 1970 and renovated in 2010 and 2013 with high-end Gensler-designed interior finishes.

Jeffrey Weber, Mark Penrod, Greg Cioth, Andy Zighelboim, Edmund Najera, Paul Nelson, Nate Jones, John Block & Matt Hartman of Eastdil Secured represented Drawbridge on this transaction.