Lift Partners Buys Menlo Park Manufacturing Facility for $24.8MM

By Kate Snyder

More activity has been recorded in Menlo Park with the recent acquisition of a light manufacturing facility in the northern part of the city.

A San Francisco-based real estate investment firm purchased an industrial property in Menlo Park for $24.8 million, or approximately $672.56 per square foot, according to public records. The sale was recorded in mid-September, and the buyer was an entity affiliated with Lift Partners while the seller was an entity affiliated with Robert Berman in Palo Alto.

Built in 1981, the one-story building is located at 3575 Haven Ave. in Menlo Park. According to public records, the building is classed as a light manufacturing facility that is approximately 36,855 square feet and sits on about 1.7 acres.

According to Google Maps, the property’s neighbors include a mix of life science and commercial operations, such as Mainspring Energy, Inc., Strateos and Equiptek Labs, Inc. as well as other local businesses.

Lift Partners was founded in 2015 with a focus on reimagining “buildings left in limbo and revitalized properties to realize their highest potential,” according to the company’s website. The firm has acquired 59 assets with a total of seven million square feet in the Bay Area, Seattle and Southern California.

Menlo Park has seen a fair amount of development and sales activity in commercial real estate in recent months, including life science and commercial properties.

In June, Ellis Partners announced the acquisition of 200 Middlefield Road in Menlo Park. The Class-A office building is located in the epicenter of Silicon Valley – home to top venture capital and the nearby start-up ecosystem. According to The Registry’s previous reporting, the property sold for $62.67 million, or approximately $1,455 per square foot.

Also in June, Antheia, a synthetic biology company enabling next-generation plant-inspired medicines, announced $40 million in venture debt financing from Oxford Finance LLC and Silicon Valley Bank, alongside plans to construct a new pilot scale biomanufacturing facility. The financing will support Antheia’s expansion with a 14,700 square-foot pilot plant located next to Antheia’s headquarters in Menlo Park.

West Coast Commercial Real Estate News