(EDITOR’S NOTE: According to public documents, the building at 1001 O’Brien Drive sold for $6 million, or $300 per square foot, and the building at 1320 Willow Road sold for $12 million, or $240 per square foot. The transaction closed in early December.)
MENLO PARK, Calif. (January 11, 2016)– Tarlton Properties, Inc. (TPI), a commercial property development and asset manager, announced the recent acquisition of 77,000 square feet of industrial/office space for their O’Brien Drive Portfolio (ODP) in Menlo Park, CA. The expansion includes the acquisition of 20,000 square feet at 1001 O’Brien Drive and 50,000 square feet at 1320 Willow Road.
“This latest acquisition allows us to further expand our life science cluster, enabling the commercialization of the vast amount of world class intellectual property coming from our neighbor Stanford University,” said John Tarlton, CEO of TPI.
ODP offers approximately 150,000 square feet of high-quality life science and medical device space in Menlo Park with easy access to Stanford University, Sand Hill Road, major airports and freeways. Located within close proximity to more than 60 other life science and device companies. ODP is strategically designed to accommodate tenants for growth from smaller 4,000 square feet suites to larger Class A wet lab buildings.
Fabrizio Paolozzi and Bryan Pennington of Kidder Mathews represented TPI in the acquisition of 1001 O’Brien Drive and 1320 Willow Road.
About Tarlton Properties
Tarlton Properties, Inc., (TPI) founded in 1980 and headquartered in Menlo Park, Calif., provides commercial property development, redevelopment, construction management, and management services, as well as innovative and creative investment opportunities in select properties. TPI’s full development capabilities are illustrated by its largest project, the award-winning, 50-acre, 900,000-square-foot Menlo Business Park. TPI has developed and redeveloped approximately 4.5 million square feet in the area, both as a principal and for other owners, including 1.5 million square feet of REO properties for institutional clients. For detailed information, visit www.tarlton.com.