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CF To Get Big Profit From Menlo Park Land

MENLO PARK, CA-The nation's third largest trucking firm will reportedly get more than $30 million for its 3.2-acre headquarters

By David Scholz | Updated on July 31, 2000

Consolidated Freightways should easily cover the cost of its new headquarters property in Vancouver, Wash. by selling its existing headquarters in Menlo Park and the Leland James Center in Portland. The nation’s third largest trucking firm purchased its 2.3-acre Menlo Park headquarters more than 40 years ago for a meager $2 million. Though Consolidated hasn’t announced the buyer or the price, sources say the property is now expected to sell for more than $30 million as it prepares to consolidate operations in Vancouver, Wash.

Consolidated is also disposing of its 12-acre administrative center in Portland, and has listed the property for $28.5 million. Finally, its new headquarters in Vancouver, a 480,000-sf, PacTrust-owned building on 23 acres at the Tech Center, is being purchased for “upwards of $20 million,” a company spokesman told GlobeSt.com.

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