SAN FRANCISCO, Feb. 6, 2015 /PRNewswire/ -- Prologis, Inc.
PLD, -2.51%
the global leader in industrial
real estate, today announced the sale of a 21-building, 56-acre
industrial park to Facebook, Inc.
Menlo Science & Technology Park is located on Willow Road between Highway 101 and the Dumbarton Bridge in Menlo Park, Calif. Prologis has owned and managed the property since 1998.
"Land constraints and increased urbanization pressures in markets such as Silicon Valley support the monetization of select infill assets," said Michael Curless, chief investment officer, Prologis. "This project and others in our portfolio benefit from our dedicated team who understand how to identify and unlock the intrinsic value in our value-added conversion properties."
"Our team has spent the past several years planning the conversion of this site for higher and better use," said Mark Hansen, senior vice president, value added investments, Prologis. "We are pleased to see our efforts materialize and provide a strong foundation for the future redevelopment of the site."
Read more at Click here / www.trade4x.net
Menlo Science & Technology Park is located on Willow Road between Highway 101 and the Dumbarton Bridge in Menlo Park, Calif. Prologis has owned and managed the property since 1998.
"Land constraints and increased urbanization pressures in markets such as Silicon Valley support the monetization of select infill assets," said Michael Curless, chief investment officer, Prologis. "This project and others in our portfolio benefit from our dedicated team who understand how to identify and unlock the intrinsic value in our value-added conversion properties."
"Our team has spent the past several years planning the conversion of this site for higher and better use," said Mark Hansen, senior vice president, value added investments, Prologis. "We are pleased to see our efforts materialize and provide a strong foundation for the future redevelopment of the site."
Read more at Click here / www.trade4x.net
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