{"id":5861,"date":"2026-07-30T18:40:26","date_gmt":"2026-07-30T18:40:26","guid":{"rendered":"https:\/\/nextcitydigest.com\/?p=5861"},"modified":"2026-07-30T18:40:26","modified_gmt":"2026-07-30T18:40:26","slug":"local-real-estate-firm-buys-los-altos-office-site-that-was-foreclosed","status":"publish","type":"post","link":"https:\/\/nextcitydigest.com\/?p=5861","title":{"rendered":"Local real estate firm buys Los Altos office site that was foreclosed"},"content":{"rendered":"
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LOS ALTOS \u2014 A Los Altos office building that suffered a foreclosure was bought by a Bay Area real estate firm that is becoming active in purchasing local office hubs at discounted prices.<\/p>\n

Read more Novato freeway crash downs power lines, halts traffic, causes large outage<\/a><\/p>\n

At 4410 El Camino Real and just a few miles from Stanford University, the building was bought by an affiliate of Peninsula Land & Capital for $26.9 million, according to documents filed on July 29 with the Santa Clara County Recorder\u2019s Office.<\/p>\n

Scott Prosser, a vice chairman of commercial real estate firm Cushman & Wakefield, arranged the building\u2019s purchase.<\/p>\n

In January, American National Insurance Co. seized the building through a speed foreclosure proceeding, according to a filing with the Recorder\u2019s Office.<\/p>\n

An affiliate of Briggs Development bought the building in 2018, paying $20.3 million. The loan that was foreclosed was issued in 2018 and totaled $18.4 million.<\/p>\n

Read more Peninsula enclave reclaims title as most expensive US ZIP code<\/a><\/p>\n

Briggs Development renovated the 37,100-square-foot building in 2019, spending $7.4 million.<\/p>\n

Peninsula Land & Capital and its sibling company Menlo Land & Capital, Palo Alto-based real estate firms that are headed up by business executive Roger Fields, have both been busy of late purchasing Bay Area office sites at relatively bargain prices.<\/p>\n

In May, Menlo Land & Capital paid $24.6 million for a Campbell office building at 2105 South Bascom Ave., a price below its assessed value.<\/p>\n

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On July 1, Peninsula Land & Capital paid $25 million for a North San Jose office hub at 2001 and 2005 Gateway Place, also a considerable discount to its prior assessed valuation.<\/p>\n

Read more Hayward woman charged with shoving 78-year-old woman from sidewalk, killing her<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A Los Altos office building that suffered a foreclosure was bought by a Bay Area real estate firm that is becoming active in purchasing local office hubs at discounted prices.<\/p>\n","protected":false},"author":1,"featured_media":5860,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nLocal real estate firm buys Los Altos office site that was foreclosed - Next City Digest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nextcitydigest.com\/?p=5861\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Local real estate firm buys Los Altos office site that was foreclosed - 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