An office building in downtown Menlo Park has been sold for $15.5 million by Oak Grove Associates LLC to Robert Wheatley Properties, according to CBRE Group Inc., a Los Angeles-based commercial real estate investment firm that arranged the deal.
The 18,353-square-foot, two-story building at 885 Oak Grove Ave. near University Drive was built in 1965.
According to the announcement, posted on theregistrysf.com website, about 94 percent of the building is leased.
“Office building offerings in downtown Menlo Park are a rarity,” Scott Prosser, executive vice president of CBRE, said in a statement. “This opportunity generated strong interest, resulting in buyer selection within a week from launching to the market.”
Robert Wheatley Properties is a nonresidential building operator in Palo Alto.