Sobrato Development Acquires and Will Re-Market Menlo Park Industrial Facility
Sobrato Development acquired a 193k sf industrial/warehouse facility located on 12.1 acres at 151 Commonwealth Dr in Menlo Park from Diageo North America Inc. The price was not disclosed.
Diageo, a global provider of premium beverages, formerly occupied the entire facility and utilized it for beverage storage and distribution. The property is rail served and features a huge yard.
The team of Michael Courson, Mike Connor, Ron Himes along with Jay Hagglund all with Cassidy Turley have collaborated to represent both parties in the transaction. Courson represented Sobrato Development, while Connor and Hagglund, joined by Joe Garvey of CLW Real Estate Services Group, represented Diageo in the deal.
Sobrato plans to bring the property to market for potential multi-tenant or single-tenant use and has retained the entire Cassidy Turley team along with Mark Courson, also of the firm, as leasing representatives. Menlo Park is widely considered as one of the most affluent, prestigious cities in Northern California and this facility represents a rare opportunity for an industrial/warehouse user in this area.
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