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Vacant Palo Alto Office Building Sold for $54 Million

Sale of Property Near Stanford Points to Gradual Rebound of Area’s Once-Bustling Office Scene
An office building at 379 Lytton Ave. in Palo Alto, California, traded for $54 million, a price that reflected the ongoing impact of the pandemic even as restrictions taper and employees return to work. (CoStar)<br>
An office building at 379 Lytton Ave. in Palo Alto, California, traded for $54 million, a price that reflected the ongoing impact of the pandemic even as restrictions taper and employees return to work. (CoStar)
CoStar News
February 25, 2022 | 12:34 AM

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A Palo Alto office building not far from the Stanford University campus traded below the area's pre-pandemic peak last week in a transaction that reflected the ongoing effects of the pandemic on commercial landlords and tenants — even in the heart of Silicon Valley.

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