City Seeks Clarification on Building Specs for Post Office Bid
The City of Palo Alto is currently developing a bid to purchase the Palo Alto Post Office building located at 380 Hamilton Ave that was built in 1932 and is listed on the National Registry of Historic Places. As part of its review to determine an appropriate offer, the City has sought clarification on several key elements of the building that could potentially impact not only the City's offer, but those of other interested parties.
In a letter sent to CBRE, the brokerage company for the property sale, as well as the United States Postal Service, the City notes there are several discrepancies between information in the property’s listing at http://www.uspspropertiesforsale.com/ and the City’s research that if not corrected, could be misleading. (Information not posted on the public USPS website has been redacted from the letter due to a confidentiality agreement signed by all prospective buyers).
The property summary listed on the USPS site indicates the "rentable" square footage as 33,848 square feet. In fact, the existing square footage as calculated by the historic architect and used in the City’s appraisal is 22,182 square feet. In addition, the listing shows the land size as 33,750 square feet, but the City’s parcel map shows the lot size to be 32,700 square feet.
The anticipated deadline to submit an offer is October 17.