PALO ALTO — A high-profile real estate firm has bought a Palo Alto office building from another firm in a deal that shows some buildings in prime Bay Area locations can still attract investors.
Strada Investment Group, acting through an affiliate, purchased the 60,000-square-foot building at 3350 West Bayshore Rd. for $29 million, documents filed on Dec. 17 with the Santa Clara County Recorder’s Office show.
Alexandria Real Estate was the seller of the 4.1-acre site, county documents show.
Strada Investment Group’s expertise includes work on a wide-ranging redevelopment of The Shops at Tanforan in San Bruno and acting as the development manager for Chase Center in San Francisco.