+

Market Survey
Palo Alto Area | Lease
January 10, 2023
Availability Summary
445 Sherman Ave,
1 Palo Alto, CA

3000 El Camino Real,

2 Palo Alto, CA
(Palo Alto Square Tower 2)

3000 El Camino Real,

3 Palo Alto, CA
(Palo Alto Square Tower 5)

366 Cambridge Avenue,

4 Palo Alto, CA

5 4200 Bohannon Drive,

Menlo Park, CA
 Availability Comparison

Site 1 2 3 4 5
3000 El Camino Real, Palo Alto, CA 3000 El Camino Real, Palo Alto, CA
445 Sherman Ave,
Address (Palo (Palo 366 Cambridge Avenue, Palo Alto, CA 4200 Bohannon Drive, Menlo Park, CA
Palo Alto, CA
Alto Square Tower 2) Alto Square Tower 5)
Space(s) Suite 250 Suite 250 Partial 8th Floor Entire 1st and 2nd Floor Suite 280
1st: 2,015 SF
Size (SF) 3,895 SF 3,850 SF 3,262 SF 2nd: 2,015 SF 4,179 SF
Total: 4,029 SF
Asking Rent
$6.95 $8.25 $7.50 Mid-$5.00s $3.50
(Monthly PSF)
Triple Net / NNN Triple Net / NNN Triple Net / NNN
Triple Net / NNN
(tenant pays their pro-rata share of (tenant pays their pro-rata share of (tenant pays their pro-rata share of
(tenant pays their pro-rata share of expenses Full-Service Gross
Lease Type expenses (maintenance, taxes, and expenses (maintenance, taxes, and expenses (maintenance, taxes, and
(maintenance, taxes, and insurance) in addition to (landlord pays all or most expenses)
insurance) in addition to base rent insurance) in addition to base rent insurance) in addition to base rent
base rent OPEX: $2.17
OPEX: $1.21 OPEX: $1.21 OPEX: $1.75

Building SF 23,215 SF 132,910 SF 128,586 SF 4,029 SF 45,451 SF

Stories 2 10 10 2 2

Floor Size 11,608 SF 13,291 SF 12,858 SF 2,015 SF 23,500 SF

Building Class B B B B B

Landlord Bay Area Industrial Corporation Hudson Pacific Properties, Inc. Hudson Pacific Properties, Inc. Leland Z. & Maria C Hortoin Wiesner Kilroy Realty Corporation

Year Built / Renovated 1970 1972 1972 1953/1999 1987

Parking Permit Parking 4.00/1,000 SF 4.00/1,000 SF Permit Parking 4.00/1,000 SF

Occupancy Vacant Vacant Vacant Vacant 30 Days

Term Negotiable Negotiable 3 – 5 Years Through 4/2024 Through 3/31/2024

Sublease from Naver Band. Stand
Direct Deal with possible TI/ Furniture
Direct deal with Possible Furniture allowance/ TI for alone building adjacent to parking and Plug and Play Sublease from Certara
allowance. Located in the heart of DT
Notes privates. Deals striking in the mid 6’s here. Potential Sublease with long term. Unfurnished. multiple amenities. Furniture is with possible direct deal and ability to
Palo Alto. 6 building campus with
to grow within building potentially available, sublessor is grow within campus.
opportunities to grow within.
motivated.
 445 Sherman Ave
1 Back to Comparison
Palo Alto | Palo Alto Submarket
Space(s) Suite 250

Size (SF) 3,895 SF

Asking Rent
$6.95
(Monthly PSF)

Triple Net / NNN

(tenant pays their pro-rata
share of expenses
Lease Type
(maintenance, taxes, and
insurance) in addition to
base rent OPEX: $2.17

Building SF 23,215 SF

Stories 2

Floor Size 11,608 SF

Building Class B

Bay Area Industrial

Landlord
Corporation

Year Built / Renovated 1970

Parking Unavailable

Occupancy Vacant

Term Negotiable

Direct deal with Possible

Furniture allowance/ TI for
Notes privates. Deals striking in
the mid 6’s here. Potential
to grow within building Brochure
 3000 El Camino Real | Two Palo Alto Square
2 Back to Comparison
Palo Alto | Palo Alto Submarket
Space(s) Suite 250

Size (SF) 3,850 SF

Asking Rent
$8.25
(Monthly PSF)

Triple Net / NNN

(tenant pays their pro-rata
share of expenses
Lease Type
(maintenance, taxes, and
insurance) in addition to
base rent OPEX: $1.21

Building SF 132,910 SF

Stories 10

Floor Size 13,291 SF

Building Class B

Hudson Pacific
Landlord
Properties, Inc.

Year Built / Renovated 1972

Parking 4.00/1,000 SF

Occupancy Vacant

Term Negotiable

Direct Deal with possible TI/

Furniture allowance.
Located in the heart of DT
Notes
Palo Alto. 6 building
campus with opportunities Brochure
to grow within.
 3000 El Camino Real | Five Palo Alto Square
3 Back to Comparison
Palo Alto | Palo Alto Submarket

Space(s) Partial 8th Floor

Size (SF) 3,262 SF

Asking Rent
(Monthly PSF) $7.50

Triple Net / NNN

(tenant pays their pro-
rata share of expenses
Lease Type (maintenance, taxes,
and insurance) in
addition to base rent
OPEX: $1.21

Building SF 128,586 SF

Stories 10

Floor Size 12,858 SF

Building Class B

Hudson Pacific
Landlord
Properties, Inc.

Year Built / Renovated 1972

Parking 4.00/1,000 SF

Occupancy Vacant

Term 3 – 5 Years

Notes
Sublease with long term.
Unfurnished. Brochure
 366 Cambridge Ave
4 Back to Comparison
Palo Alto | Palo Alto Submarket

Space(s) Entire 1st and 2nd Floor

1st: 2,015 SF
Size (SF)
First Floor
2nd: 2,015 SF
Total: 4,029 SF
Asking Rent
Mid-$5.00s
(Monthly PSF)
Full-Service Gross
Lease Type (landlord pays all or
most expenses)

Building SF 4,029 SF

Stories 2

Floor Size 2,015 SF

Building Class B

Leland Z. & Maria C

Second Floor
Landlord
Hortoin Wiesner

Year Built / Renovated 1953/1999

Parking Unavailable

Occupancy Vacant

Term Through 4/2024

Sublease from Naver
Band. Stand alone
building adjacent to
Notes parking and multiple
amenities. Furniture is
potentially available, Brochure
sublessor is motivated.
 4200 Bohannon Dr | Menlo Corporate Center
5 Back to Comparison
Menlo Park | Menlo Park Submarket
Space(s) Suite 280

Size (SF) 4,179 SF

Asking Rent
(Monthly PSF) $3.50

Triple Net / NNN

(tenant pays their pro-
rata share of expenses
Lease Type (maintenance, taxes,
and insurance) in
addition to base rent
OPEX: $1.75

Building SF 45,451 SF

Stories 2

Floor Size 23,500 SF

Building Class B

Kilroy Realty
Landlord
Corporation

Year Built / Renovated 1987

Parking 4.00/1,000 SF

Occupancy 30 Days

Term Through 3/31/2024

Plug and Play Sublease
from Certara with
Notes possible direct deal and
ability to grow within Brochure
campus.
 +

Thank You