Pasadena’s Alexandria, On a Roll, Buys Second Stanford Research Park Building

Published : Tuesday, August 27, 2019 | 6:59 PM

Pasadena-based real estate firm Alexandria Real Estate Equities Inc., which focuses on life sciences campuses, has bought another building inside Stanford Research Park in Palo Alto, eight months after it purchased a two-story, 100,000-square-foot office and R&D building for $100 million in the campus.

The office building at 3160 Porter Drive was purchased for about $97 million in a deal that closed August 12, according to a report by The Mercury News, citing property records at Santa Clara County. The report said a Stanford University spokesman has confirmed the sale but did not provide additional details.

The university-owned the 96,500 square-foot Class A office building. The tenant was Stanford Health, part of the Stanford Medical Center complex, the report said. With the new purchases, the land under both Porter Drive buildings remains with Stanford University, in accordance with rules governing land use and sales in Stanford Research Park.

LoopNet describes the building as having a fully furnished “plug and play lab/office buildout” with 54 private offices and about 90 cubicles. It also has lab space and equipment for biological and chemical research, warehouse storage facilities and an on-site gymnasium.

In June 2017, Alexandria also purchased a two-story, 77,814-square-foot building at 1450 Page Mill Road in the research park.

Alexandria owns the 526,178-square-foot Alexandria District for Science and Technology, which is currently under construction in San Carlos in the Peninsula. It is also the principal developer at Mission Bay where it controls about one million square feet and is the landlord to several companies.

 

 

 

 

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