{"id":1004639508,"date":"2023-01-16T07:22:21","date_gmt":"2023-01-16T15:22:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004639508"},"modified":"2023-01-16T07:22:34","modified_gmt":"2023-01-16T15:22:34","slug":"morgan-stanley-buys-68m-bay-area-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/","title":{"rendered":"Morgan Stanley Buys $68M Bay Area MOB"},"content":{"rendered":"
\"321<\/a>

321 Middlefield. Image courtesy of Newmark<\/p><\/div>\n

Morgan Stanley<\/strong> has paid $68 million for a 44,719-square-foot medical office building in Menlo Park, Calif. Pollock Financial Group\u00a0<\/strong>sold the fully leased asset in a transaction arranged by Newmark<\/strong>.<\/p>\n

With a $4.42 billion sales volume year-to-date as of November, the Bay Area dominated the West Coast in terms of office transactions, as shown by a recent CommercialEdge report<\/a>. The market also registered the lowest growth in vacancies over the past 12 months at just 0.07 percent, according to the research.<\/p>\n

A Bay Area medical office asset attracting investor interest<\/h2>\n

The two-story facility came online in 1962 on a 3-acre site, and underwent cosmetic renovations in 2009, according to CommercialEdge. Menlo Medical Clinic, a partner of Stanford Health Care, DeMarta Dental and Lucile Packard Children’s Hospital Stanford are among the tenants at the property.<\/p>\n

Located at 321 Middlefield Road, with connectivity to Interstate 101, the medical office building is some 3 miles from Stanford Hospital, the only Level 1 trauma center on the San Francisco Peninsula. Downtown Menlo Park is less than 2 miles away.<\/p>\n

The Newmark team that facilitated the transaction included Executive Vice Chairman & President Steven Golubchik, Vice Chairman Edmund Najera and Director Darren Hollak, together with Senior Managing Directors Jonathan Schaefler and Jesse Millman.<\/p>\n

In a prepared statement, Golubchik said that the asset attracted strong investor interest, despite market volatility.<\/a> According to Newmark research, Menlo Park accounts for 6.5 million square feet of the approximately 39 million square feet of office space in the South Peninsula market, with a vacancy rate of 12 percent in the fourth quarter of 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Newmark team brokered the transaction. <\/p>\n","protected":false},"author":3030,"featured_media":1004639510,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,21742,1609,15],"tags":[40859,32774,50999,38621],"class_list":["post-1004639508","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-latest","category-san-francisco","category-west","tag-edmund-najera","tag-morgan-stanley","tag-newmark","tag-steven-golubchik"],"acf":[],"yoast_head":"\nMorgan Stanley Buys $68M Bay Area MOB - CPE<\/title>\n<meta name=\"description\" content=\"Morgan Stanley has purchased a 44,719-square-foot, fully leased medical office building in Menlo Park, Calif., from Pollock Financial Group.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morgan Stanley Buys $68M Bay Area MOB\" \/>\n<meta property=\"og:description\" content=\"Morgan Stanley has purchased a 44,719-square-foot, fully leased medical office building in Menlo Park, Calif., from Pollock Financial Group.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-16T15:22:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-16T15:22:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/321-Middlefield.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"838\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raluca Toma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/\",\"name\":\"Morgan Stanley Buys $68M Bay Area MOB - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/321-Middlefield.jpg\",\"datePublished\":\"2023-01-16T15:22:21+00:00\",\"dateModified\":\"2023-01-16T15:22:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/1e908d9381f3929d1d57f95e4db8c529\"},\"description\":\"Morgan Stanley has purchased a 44,719-square-foot, fully leased medical office building in Menlo Park, Calif., from Pollock Financial Group.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/morgan-stanley-buys-68m-bay-area-mob\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/321-Middlefield.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/321-Middlefield.jpg\",\"width\":838,\"height\":628,\"caption\":\"321 Middlefield. 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