Excellence Palo Alto Property Investment, LLC has acquired a 10,700 square foot freestanding retail building at 145 El Camino Real in the city of Menlo Park, CA (at the border of Palo Alto) for $15 million, which equates to a price of $1,400 per square foot. The seller was 145 El Camino Partners, LLC, which is made up of the original founders of Intero Real Estate group. Positioned along one of the region’s most heavily trafficked thoroughfares, the two-story Class A building is well located at a signalized intersection immediately north of the popular, upscale Stanford Shopping Center. Recently built in 2007, the property was fully leased at the time of sale to Stanford Hospital Clinics and Ivy Max Learning Center. Yuan-Sing Chang of Intero Real Estate in Saratoga, CA, in collaboration with James Chung with Cushman & Wakefield’s Retail Services group in San Jose represented the seller in the transaction
SAN FRANCISCO--CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that a CIM-managed fund has closed a $67.5...