Menlo Park – A real estate company that has developed a mixed -use district of South Bay lively is the most offering to buy the old US Geological Survey campus, located on Prime Land in Menlo Park.
Presidio Bay Ventures submitted a high offer of just over $ 137 million to buy the 17.3 acres site, according to the US General Services Administration, which manages the process to unload the Choice property. The exact amount of the offer was $ 137,000 006.
The USGS unique campus is located at 345 Middlefield Road in Menlo Park and includes 17 buildings in a high level spot in Silicon Valley.
Presidio Bay Ventures has also developed Springline, a destination district in downtown Menlo Park.
President Donald Trump’s administration has launched several initiatives to reduce the size and scope of the federal government.
The president’s efforts include the sale of a range of federal properties, including some high -level sites.
However, the attempted by the Federal General Services Administration to sell the USGS unique campus began before Trump took office in January 2025.
The GSA has praised the attractive location of the old USGS property in its marketing equipment.
“Menlo Park is home to technology giants and other successful startups that continue to stir up support companies to settle in the region,” said Federal GSA in its position.
The buildings of the old USGS campus total a total combined of 412,700 square feet, according to marketing documents prepared by the Federal GSA.
The GSA in particular noted two structures on the campus. One is building 3 and the other is building 15.
“Building 3 is a two -story office of 2,795 square feet and a laboratory building built in the 1950s and renovated in 1998,” said GSA. “Building 15 is a three -storey building and 159,555 square feet and was built in 1995.”
The minimum offer for the campus was $ 85 million, according to the GSA.
All in all, three companies, acting through affiliated companies, have placed ownership offers:
– Presidio Bay Ventures, based in San Francisco, $ 137 million.
– City Ventures, a manufacturer of houses in California, $ 120 million.
– Starwood Property Trust, a real estate company based in Connecticut, $ 90.3 million.
According to the GSA, several additional steps are scheduled before the end of the sale.
The next step before a final and official sale at Presidio Bay Ventures is an antitrust examination of the United States Ministry of Justice. It was not immediately clear how long this process could take.
However, GSA officials who opened the offers sealed on April 15 estimated that the real estate transaction should not take more than 90 days to finish and register officially in the County of San Mateo.
The buyer should pay in cash for the purchase of the property, according to the GSA, which added that no edition will be authorized as part of the agreement.
Almanac, a community website that focuses on peninsula cities such as Menlo Park, Atherton, Portola Valley and Woodid, was the first to report the news of the non-and offer.
The Menlo Park site has become available after the USGS decided to move its offices to the NASA Ames Complex to Mountain View.
Presidio Bay Ventures, the real estate company which won the call for tenders, met its efforts to create the Springline district in downtown Menlo Park.
The development of mixed destination use includes houses, restaurants, offices and outdoor spaces.
“Springline redefines downtown Menlo Park,” says Presidio Bay Ventures on the neighborhood website. The real estate company added that Springline produced “a complex style campus with culinary destinations, creative offices, modern residences and a mixture of outdoor experiences”.
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