From: Stephen Reller
To: UAC; Council, City
Cc: Mark Moragne
Subject: 2575 Bayshore Purchase
Date: Friday, June 13, 2025 9:00:00 AM
Attachments: 1020 O"Brien Dr Flyer (1).pdf
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To Whom it may Concern:
Hello. I am a Palo Alto resident and am concerned about the property at 2575 E. Bayshore that the City Council will consider purchasing on Tuesday. $8.5m for 14,640 sf equates to $580 per sf. This is well above market.
Case in point, I have a property for sale at 1020 O'Brien in Menlo Park, just three miles from 2575 E.
Bayshore (see attached.) The property is larger (1.1 acres,) with a 20,000 sf secured yard, and the building is much larger (20,000 sf.) If the city/utility can bear traveling a mere 3 miles (the distance from 2575 E. Bayshore to 1020 O'Brien) and would like to save $1,500,000, with very flexible terms, please let me know.
Irrespective of 1020 O'Brien (and my biased opinion that it's a better option to be considered,) $580 per sf for an industrial/warehouse building seems well above market. For $7,000,000, 1020 O'Brien would be $350/sf. Thank you for your consideration.
Steve Reller
SIMON CLARK
Executive Vice President
dre license #01318652
| 650.577.2938
| [email protected]
JAMES MARZONI
Senior Vice President
dre license #01248525
| 650.787.0798
| [email protected]
For Lease / For Sale
1020 O'Brien Dr, Menlo Park, CA
±20,000 SQ. FT. R&D BUILDING
1020 O'Brien Dr, Menlo Park, CA
1020 O'Brien Dr, Menlo Park, CA
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propertyoverviews
Address:
APN:
Building Size:
Parcel Size:
Zoning:
Parking:
1020 O’Brien Dr, Menlo Park, CA 94025
055-422-060
±20,000 Sq. Ft.
±48,003 Sq. Ft. / 1.10 Acre
LS (Life Sciences)
±60 spaces (3.00/1000)
Premier Properties and CBRE present a prime opportunity to lease or acquire a versatile industrial property in Menlo Park, CA. 1020 O'Brien Drive is suitable for industrial, lab, R&D, or office applications. The ±20,000 SF building is available immediately and features a
16.5-foot clear height, one roll-up door, and 400 amps of power. This is a great site for investors, developers, or owner-users seeking immediate occupancy or redevelopment opportunities. The property is positioned near Meta's planned Willow Village--a 59-acre mixed-use development featuring offices, homes, and retail spaces--and surrounded by approximately 534,000 square feet of planned office / R&D projects along O'Brien Drive, placing it at the heart of a thriving innovation hub.
1020 O'Brien Drive represents a great opportunity to purchase or lease an ideally situated warehouse available for immediate occupancy and with redevelopment potential.
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1020 o’brien floor plan
1020 O'Brien Dr, Menlo Park, CA
1020 O'Brien Dr, Menlo Park, CA
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1020 O’BRIEN DR,
MENLO PARK, CA
innovative neighbors MAP
Oregon ExpyOregon Expy
Page Mill RdPage Mill Rd
101
101
82 82
84 84
84 STANFORD
RESEARCH
PARK
109
1020 O'Brien Dr, Menlo Park, CA
1020 O'Brien Dr, Menlo Park, CA
SFO - 17.5 miles
SJC - 19 miles
PLANES
OAK - 27 miles San Francisco - 1 h 38 min
San Jose - 1 hr 21 min
Milbrae - 1 hr 17 min
TRAINS
San Francisco - 29.1 miles
Downtown San Jose - 21.1 miles
AUTOMOBILES
Downtown Oakland - 32.3 miles
Downtown
San Carlos
Bair Island
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101
82 (74,000 VPD)(74,000 VPD)
(26,830
VPD
)
(26,830
VPD
)
84 84
Kaiser Permanente
Medical Center
Bay
shor
e F
wy
(168,000
VPD
)
Bay
shor
e F
wy
(168,000
VPD
)
Downtown
Redwood City
TRANSPORTATION MAP
1020 O’BRIEN DR,
MENLO PARK, CA
1020 O'Brien Dr, Menlo Park, CA
1020 O'Brien Dr, Menlo Park, CA
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DEMOGRAPHICS
ONE-MILE POPULATION: 25,507
MEDIAN AGE
34.1 AVEAGE HOUSEHOLD
SIZE FAMILIES
3.81 4,877
Average Household Income
$173,9214,877FAMILIES
Average
Household Size:3.81
Owner Occupied
Housing Units: 3,079
Renter Occupied
Housing Units 3,577
Median
Household Income $119,615
Average
Household Income $173,921
MAJOR EMPLOYERS:
Data for all businesses in area
Total Businesses:
Total Employees:
Total Residential Population:
Average Household Size:
1 mile
480
7,399
25,507
3.8 3 miles
5,861
85,759
102,966
3.0 5 miles
13,185
181,926
239,639
2.8 1020 O'Brien Dr, Menlo Park, CA
1020 O'Brien Dr, Menlo Park, CA
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CONFIDENTIALITY& DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Premier Properties and should not be made available to any other person or entity without the written consent of Premier Properties. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Premier Properties has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however Premier Properties has not verified and will not verify any of the information contained herein, nor has Premier Properties conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
1020 O'Brien Dr, Menlo Park, CA
1020 O'Brien Dr, Menlo Park, CA
For Lease / For Sale
1020 O'Brien Dr, Menlo Park, CA
±20,000 SQ. FT. R&D BUILDING
SIMON CLARK
Executive Vice President
dre license #01318652
| 650.577.2938
| [email protected]
JAMES MARZONI
Senior Vice President
dre license #01248525
| 650.787.0798
| [email protected]