An affiliate of Alexandria Real Estate Equities has purchased the Stanford Research Park office building in Palo Alto, Calif., for $115.2 million, reported local media outlets. The seller was Stanford University.
The office is located at 3180 Porter Drive and totals 100,000 square feet. Jazz Pharmaceuticals is the building tenant.
Alexandria’s first purchase in Palo Alto occurred in January 2018, when the REIT focused on life science assets paid $136 million for the Embarcadero Place office complex on Geng Road.
