Pasadena-based Alexandria Real Estate, acting through affiliate ARE San Francisco No. 80, has acquired two office buildings in Palo Alto, Calif., for $291 million, according to the Mercury News, citing Santa Clara County property records that were filed on Dec. 10.
The properties were sold by SSL Land LLC, affiliated with Space Systems Loral, a defense contractor that manufactures satellites.
The two properties are located on 24 acres of land. The properties could potentially be redeveloped and replaced with modern office buildings.
