Carr McClellan Advises KG-Lytton in $53MM Transaction of Palo Alto Building

BURLINGAME, CALIF., Dec. 17, 2013 – Carr, McClellan, Ingersoll, Thompson & Horn represented KG-Lytton, LLC in its sale of 130 Lytton to Rockwood Capital. One of the largest buildings in downtown Palo Alto, Calif., the purchase price was $53 million or $1,060 per square foot.

Director and Chair of the Real Estate Group Lisa Stalteri led the Carr McClellan team, which included Lage Andersen, a certified specialist in taxation law and a director in the Tax Group. Rockwood Capital was represented by Stephen Berkman and Christopher Yee of Paul Hastings LLP.

“Being in the heart of downtown in Palo Alto and its proximity to public transportation made the building a very attractive acquisition,” said Stalteri. “Based on the purchase price and rentable square feet of the building, the deal is the highest value sale based on rentable square feet in Palo Alto this year.”

The 50,000 square foot property is fully leased to A9, a subsidiary of Amazon, for use as its headquarters.

Kevin Cunningham of Cornish and Carey Commercial Newmark Knight Frank and Hernan Santos and Charlie McCabe of CBRE represented KG-Lytton, LLC. Tarlton Properties represented the purchasers.

A premier full-service law firm in the San Francisco Bay Area for more than 65 years, Carr McClellan counsels clients in the areas of real estate; taxation; construction; business litigation; corporate and business. On the Web: http://www.carrmcclellan.com.

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