Two of Menlo Park's oldest commercial buildings the current locations of Feldman's Books (1170 El Camino Real) and Gentry magazine offices (1162 El Camino) are up for sale and advertised for potential redevelopment.
The Feldman's Books building, constructed in 1905, was once home to the Menlo French Laundry, according to "Images of America: Menlo Park," by Janet and Reg McGovern and Betty and Nicholas Veronico. The building housing Gentry's offices, built in 1910, was once home to the Menlo Meat Market, according to the Menlo Park Historical Association.
The listing on loopnet.com says the property's tenants are on short-term leases. The property, being sold as a package deal, would "provide an opportunity for an investor to procure an extremely well located retail/office property to either re-tenant, owner-occupy or redevelop the parcel," the loopnet.com posting says.
According to the listing, the two buildings could be redeveloped into an 11,303-square-foot mixed-use property, with a 60 foot maximum height limit if the developer provides a public benefit approved by the city.
Jeffrey Ida, the listing broker, said the property has generated some interest, but declined further comment. The property is owned by four siblings of the Delagnes family, and Kim Delagnes, wife of part-owner Jon Delagnes, confirmed that there have been a number of interested potential buyers.
She said the family has commissioned a report on the historical status of the buildings, which is expected to be released Friday, Feb. 5, and could provide further information on the kinds of protections or restrictions the buildings would be subject to.
The ideal buyer of the property, she said, would update the buildings and retain the tenants who want to stay.
According to Steve Feldman, who works at the bookstore with the shop's owner, his brother Jack, the building has been up for sale for about a year, with fewer buyers looking at the property recently. "They don't seem to be trying as hard as they were six months ago" to sell it, he said.
Elsie Floriani, a co-founder and executive editor of Gentry, said the lease on the building has been extended "well into" 2016. "We'd love to stay here because it's been our home for so long," she said.