No profitable bidder as Menlo Park USGS campus public sale closes | Information

The U.S. Geological Survey campus in Menlo Park is at present being marketed on the market. It’s anticipated to be auctioned within the spring, in keeping with officers from the U.S. Basic Providers Administration. Picture by Andrea Gemmet.

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Bidding has closed on the 17-acre United States Geological Survey (USGS) campus in Menlo Park and not using a purchaser.

The USGS campus is owned by the Basic Providers Administration (GSA), the federal government company that serves as a property supervisor for federal workplace buildings. The GSA is gathering market analysis and can re-evaluate the sale’s phrases, Andra Higgs, a Area 9 Public Affairs Officer, mentioned in an e-mail. The data is being gathered from events, who embrace builders, buyers, nonprofit organizations, firms and people, in keeping with Higgs.

The federal property at 345 Middlefield Street within the Linfield Oaks neighborhood, dubbed Rockaway Grove, is over 17 acres and contains many buildings and laboratories, in addition to the GeoKids daycare. The minimal bid on the federal public sale website was set at $120 million and required a $750,000 deposit with a purpose to take part.

The USGS group has been steadily relocating from Menlo Park to Mountain View and plan to vacate the laboratories and places of work by fall 2023 in keeping with Jane Reid, deputy director of areas 8 and 10 which incorporates California. Transferring the company’s West Coast science heart to the NASA Ames Analysis Middle at Moffett Discipline was framed as largely a monetary determination when it was introduced in 2016.

The GSA is obligated below federal regulation to cost market-rate lease for its properties, even in expensive locales such because the Bay Space. In 2016, annual lease for the campus was $7.5 million and was anticipated to go up considerably when the 10-year lease led to late 2017.

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