In the News
January 22, 2016
Acquisition Expands Life Science Cluster
ALM Globe St
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MENLO PARK, CA-A recent acquisition of 77,000 square feet of industrial/office space is slated for expansion of a life science cluster, enabling the commercialization of a vast amount of intellectual property coming from neighboring Stanford University. Tarlton Properties Inc., a commercial property development and asset manager, made the acquisition for its O'Brien Drive Portfolio. The expansion includes the acquisition of 20,000 square feet at 1001 O'Brien Dr. and 50,000 square feet at 1320 Willow Rd.
John Tarlton, CEO of Tarlton Properties, tells Globest.com: "These two acquisitions are a continuation of our goal to provide a leading campus dedicated to life science and technology. It helps us to build the density of our emerging science companies which enjoy the benefits of proximity to Stanford and access to other companies, financial resources and transportation."
The O'Brien Portfolio offers approximately 150,000 square feet of life science and medical device space in Menlo Park with easy access to Stanford University, Sand Hill Road, major airports and freeways. Located within close proximity to more than 60 other life science and device companies, the space is strategically designed to accommodate tenants for growth from smaller 4,000 square feet suites to larger class-A wet lab buildings.
Fabrizio Paolozzi and Bryan Pennington of Kidder Mathews represented Tarlton Properties in the acquisition of 1001 O'Brien Drive and 1320 Willow Rd.
"This latest acquisition allows us to further expand our life science cluster, enabling the commercialization of the vast amount of world class intellectual property coming from our neighbor Stanford University," said Tarlton.
As previously reported, the industrial effective vacancy rate for the Peninsula hit the zero mark last year.