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KKR Claims Palo Alto MXU from Blox, Angelo Gordon for $104M
New York-based KKR & Co. Inc. acquired First Republic Center in Palo Alto’s College Terrace for reportedly $103.6 million in an off-market, direct deal. The 77,191-square-foot mixed-use property at 2100 El Camino was sold by a partnership between Silicon Valley-based Blox Ventures, LLC and New York’s Angelo Gordon.
Blox and Angelo Gordon had acquired the property in July 2018 for roughly $78.3 million. The partnership completed lease-up, including the regional hub for First Republic in Silicon Valley, which anchors 76% of the building. Other leases include Real Produce International Market, a specialty grocer, and a music group, in the 11,000-square-foot retail space.
The 100%-leased asset is now established as one of the few properties in Palo Alto’s retail core that occupy a full city block. The property benefits from its proximity to the area’s key innovation centers, is adjacent to Stanford University, and less than half of a mile to a Caltrain rail station.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition




