2 building R&D/Life Science project totaling 56,369 sf located in Palo Alto, CA.
2197 E Bayshore Road is a 23,000 sf single story R&D building that is currently 100% leased to DeepMap, Inc., which provides HD mapping solutions for autonomous vehicles. The property was recently renovated in 2016.
2225 E Bayshore Road is a 36,098 sf two-story life science conversion property. The building will undergo extensive renovations including exterior and landscape modernization and build out of interior lab space desired by biotech tenants in the market.
Purchased under Graymark’s Life Science Program, which focuses on well-located infill projects in major life science clusters.
Strong location within 3 miles of Stanford University and with direct access to Highway 101.
Tenant demand is driven by proximity to Stanford and the submarket’s growing reputation as a life science and technology cluster. Alexandria, Longfellow, Bioscience properties and Google all have significant holdings around the subject properties.
Properties were purchased at a significant discount to replacement cost.