We represented Monte Rosa Land Company and Sharon Land Company on the $600 million sale of a portfolio of office campuses in Menlo Park, California, to a joint venture with DivcoWest and its institutional partners. The portfolio consists of 12 office buildings spread across nearly 30 acres on Sand Hill Road, a prime location in Silicon Valley for venture capital and finance firms, including Kleiner Perkins. This is one of the largest price per square foot office sales in San Francisco and the Bay Area, and Menlo Park is considered one of the hottest markets in the U.S. for office space.
The cross-practice team was led by Mike Liever and included Kelsey Kummer, both from our real estate team. Michael Weil advised on the employment portion of the deal and Steve Malvey, Eric Wall and Kim Loocke advised on the tax aspects.
We previously closed two other large San Francisco office sales in 2019 (Levi’s Plaza and Zynga HQ).