The U.S. Geological Survey's Menlo Park campus was recently sold for $137 million to Presidio Bay Ventures, which has prior projects in the area. The property had been unlisted since September 2022 after it failed to secure bids at $120 million, but a reduced minimum of $85 million attracted several bidders. Although specific future plans from Presidio Bay remain undisclosed, the site is recognized for potential housing development in Menlo Park's Housing Element, and city officials anticipate that the new owners will engage with local stakeholders about future use.
The U.S. Geological Survey's Menlo Park campus was sold to Presidio Bay Ventures for $137 million, marking a significant development in local real estate.
The property had been off the market since September 2022 when it failed to attract bids at $120 million, but a lower price of $85 million drew interest.
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