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Morgan Stanley Buys Palo Alto’s 601 California for $145M
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An affiliate of Morgan Stanley Real Estate Advisor acquired 601 S. California, a 112,000-square-foot office building in Palo Alto, CA from Blackstone for $145.1 million. The asset is located within Stanford Research Park, and had been acquired last year by Blackstone for $136 million.
PPF Office 601 California, an entity controlled by Morgan Stanley’s Prime Property Fund, acquired the property, which is on a ground lease with Stanford University. A main tenant in the building is venerable Silicon Valley law firm, Wilson Sonsini Goodrich & Rosati.
JLL’s Capital Markets team of Michel Seifer, Will Connors and Daniel Renz represented the seller in the transaction.
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