Silicon Valley Back To Heyday Pricing
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A 10k SF building at 100 Middlefield Rd just hit the market and can expect to also fetch upwards of $1,000/SF. The fully leased, Class-A building, built in 2011, sits smack in the middle of the Palo Alto and Menlo Park Caltrain stations. A number of Silicon Valley buildings, both big and small, have traded for "pretty significant" prices this year, says Marcus & Millichap's Bill Allen (left). He's seen an uptick in the $1M to $20M range, with more buildings hitting the sales block than in the past few years--and in many cases, they've reached 2007 and 2008 pricing.