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|Call for Offers||2021-07-20|
Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 570 Willow Road (“570 Willow” or the “Property”), an office / life sciences / medical office asset located in one of the Bay Area’s most highly coveted submarkets, Menlo Park.
Situated on a 1-acre site, the 16,116 square foot medical office facility is being sold vacant and was previously operated as an acute surgery center. Prominently located equidistant from both downtown Palo Alto and downtown Menlo Park, the Property provides best-in-class access to major transportation via the Menlo Park Caltrain station, Highway 101, Interstate 280 and State Route 82. Additionally, the building is half a mile from Middlefield road, and one mile away from Sand Hill road supplying direct proximity to high levels of intellectual capital and some the Bay Area’s most prolific technology companies. The Property is also just 2 miles away from the Stanford Shopping Center providing a variety of luxury dining options, high-end retail options and everyday amenities.
Over the last decade, Menlo Park has experienced a dramatic increase in office rental rates due to skyrocketing demand for space near Sand Hill Road and the Middlefield corridor, and the correlated supply imbalance in the submarket. Additionally, the rise and evolution of the life sciences sector across the Bay Area has created a new demand driver in Menlo Park. Life sciences tenants looking for both lab space and access to a highly talented labor pool have limited options to choose from. This has pushed tenants to look south of the Peninsula to fledgling life sciences submarkets like Menlo Park, Mountain View and Palo Alto. Ideally located in near high levels of intellectual capital and with desirable lease-up optionality, the Property is poised to benefit from the strong and improving market fundamentals in Menlo Park.
- Rare, fee-simple Menlo Park repositioning opportunity
- Blank canvas vacant opportunity provides multiple paths forward: Office | Life Sciences | Medical Office
- Superior market dynamics & constrained new supply
- Abundance of amenities
- Prime Bay Area access via Willow Road to Menlo Park Caltrain, Highway 101, I-280 & State Route 82
- Location amongst prestigious executive housing communities