(EDITOR’S NOTE: According to sources with knowledge of the marketing efforts, the property is hoping to fetch pricing in the high $30 millions to low $40 millions.)
San Francisco – October 6th, 2021 – CBRE announced that it has been awarded the listing of Ladera Professional Center, an office property in Portola Valley, Calif. The listing marks the first time the asset has been on the market in nearly 50 years.
Charlie Strouss, Jonathan Ziegler, Yvonne Hsiung, Bob McSweeney and Todd Husak of CBRE’s Palo Alto office are marketing the Ladera Professional Center for sale on behalf of the owner, a private family investor.
Located at 3200-3280 Alpine Road, the 23,420 square-foot property was originally built in 1964 on a 2.66-acre site. The asset is comprised of seven single-story buildings that are fully leased to six tenants. The property features 106 parking spaces and is walking distance to numerous retail amenities.
“The barriers to entry in the Portola Valley office market are extremely high and we rarely see assets of this caliber trade,” said Mr. Strouss. “This property benefits from the area’s strong demographics, low inventory of office product and proximity to many of the Bay Area’s most prominent cities.”
Ladera Professional Center is less than one mile from I-280 which connects Portola Valley to the rest of the San Francisco Bay Area. It is four minutes to Sand Hill Road, five minutes to Stanford and proximate to four of the five cities ranked by income in the San Francicsco Peninsula and Silicon Valley. The asset is located approximately 35 miles south of San Francisco and 20 miles northwest of San Jose.