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April 03, 2014

Kidder Mathews to Lease at Business Park


David Phillips

MENLO PARK, CA - Kidder Mathews has been selected to be the exclusive broker for Menlo Business Park.

Gregg Domanico, EVP and managing partner for the firm's Redwood Shores office, and Mary Hines, SVP, will lead the Kidder Mathews team. The firm joined developers Principal Real Estate Investors and Tarlton Properties, Inc. announced the leasing agreement this week.

In total, Kidder Mathews now represents 900,000 square feet at Menlo Business Park (MBP), of which 100,884 square feet is currently available.

"The extensive experience Domanico and Hines share with life science clients both large and small, and their ongoing relationship with TPI made them a natural choice," the developers said in a statement. "Together they most recently represented the leasing and rebranding of a nearby 136,000 square foot property."

Built in 1985, MBP is a commercial office park comprising 16 buildings on 50 acres near the innovation centers of Stanford University in the heart of Silicon Valley. The original developer of MBP was The Lewis & Tarlton Company now TPI. Principal Real Estate Investors recently returned to the property, as a 90% investor. Capitalizing on the region's need for incubator space, TPI also recently developed Menlo Labs, two buildings in the park dedicated to enhancing and enlarging the pool of space available for early-stage life science companies to root and grow. Menlo Labs is unique in that companies can lease a single small lab (as small as 250 square feet) on a month-to-month lease. Principal Real Estate Investors' investment provides the capital necessary to continue expansion of the Menlo Labs concept, as well.

"With life science space at a premium, the team at Kidder Mathews is an integral partner for marketingand leasing MBP," said John Tarlton, president and CEO of Tarlton Properties. "We're confident that Kidder Mathews can capture the demand for the unique space requirements quickly and efficiently."

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