Tight market conditions in Palo Alto have made it difficult for firms looking to expand or relocate. Law firm activity is expected to increase over the course of the next 18 to 24 months based on the number of leases set to expire, but the inadequate amount of available Class A space has created a game of musical chairs in which firms are targeting office space with existing professional services build outs in place. Some are exploring the option of reconfiguring their existing office.
(EDITOR’S NOTE: According to public records, the property was sold for $23.628 million, or about $200,237 per unit.) SEATTLE -- Security Properties has teamed with...