Newmark Completes $40M Sale of Palo Alto Office Building

Newmark has announced the completion of a $40 million sale of 250 Cambridge, a three-story, transit-oriented office building in Palo Alto, CA. The team of Steven Golubchik, Seth McKinnon, Jonathan Schaefler and Darren Hollak facilitated the transaction between the seller, Tarlton Properties Inc. and the buyer, 250 Cambridge LP. Newmark’s Ramsey Daya and Chris Moritz arranged the financing.

250 Cambridge is comprised of 35,000 square feet of office space along with a 29-stall parking garage and has direct access to Caltrain. The property also has easy access to retail amenities including Mollie Stone’s Market, The Counter, Starbucks and Chipotle. Nearby businesses include VMWare, Guardant Health, Kodiak Bioscience, Tesla and SAP. 

“Investor demand for well-located value-add office assets within Palo Alto remains strong,” said McKinnon in a news release. “The irreplaceable Caltrain-oriented location of 250 Cambridge generated substantial demand and a very competitive sales process.”