Ladera Professional Center Trades to Woodstock for $40M

Ladera Professional Center, an office property in Portola Valley, CA, recently sold to Burlingame-based Woodstock Development for $40.35 million. Located at 3200-3280 Alpine Rd., the 23,420-square-foot property was originally built in 1964 on a 2.66-acre site. The asset is comprised of seven single-story buildings that are fully leased to six tenants.

“Ladera is a legacy asset for Woodstock’s portfolio,” said Kirk Syme, Woodstock Development’s president. “We love the Portola Valley location, proximate amenities and services, and quality tenant profile. This will be a nice complement to our other office investments in downtown Redwood City, San Mateo and Burlingame.”

Charlie Strouss, Jonathan Ziegler, Yvonne Hsiung, Bob McSweeney and Todd Husak of CBRE’s Palo Alto office represented the seller, a private family investor.

“The barriers to entry in the Portola Valley office market are extremely high and we rarely see assets of this caliber trade,” said Strouss. “This property benefits from the area’s strong demographics, low inventory of office product and proximity to many of the Bay Area’s most prominent cities.”