Tarlton, Principal Add To Menlo Park Portfolio
Tarlton Properties and Principal Real Estate Investors have acquired 77k SF of industrial and office space in Menlo Park.
The purchase adds 20k SF at 1001 O'Brien Dr and 50k SF at 1320 Willow Rd to the companies' O'Brien Drive Portfolio. The portfolio totals around 150k SF of high-quality life science and medical device space in Menlo Park.
Last year was a busy one for the portfolio, buying a 217k SF distribution facility in Menlo Park in January with plans to turn it into a Class-A life science facility and acquiring another 20k SF in October. The total price tag for the two buildings was $18M, according to The Registry.
The latest acquisition expands Tarlton Properties' life science cluster in Menlo Park near Stanford University, says CEO John Tarlton (shown above after finishing a 2014 bike race). Fabrizio Paolozzi and Bryan Pennington of Kidder Matthews repped Tarlton Properties. [SVBJ] [TR]