FREMONT — A giant industrial and analysis constructing in Fremont has been purchased in a deal that reveals that whereas the Bay Space workplace market wobbles in a post-coronavirus period, different business property sorts nonetheless entice traders.
Prologis purchased the Fremont constructing from Blackstone for just below $86.6 million, in response to paperwork filed on July 20 with the Alameda County Recorder’s Workplace.
The acquisition was accomplished within the wake of an announcement by the 2 actual property titans that Prologis had agreed to purchase from Blackstone a nationwide portfolio of business and analysis buildings.
“We’re happy to be working with Blackstone on this deal,” mentioned Dan Letter, Prologis president.
That transaction, revealed in late June, was valued at $3.1 billion, Prologis and Blackstone acknowledged.
This acquisition expands Prologis’ presence in a number of key markets coast-to-coast, together with the Bay Space, Central Valley and Southern California.
The Fremont constructing that Prologis has simply purchased is situated at 48350 Fremont Boulevard.
Tremendous Micro Laptop is listed because the tenant within the constructing, in response to Google Maps and regulatory filings.
The one-story Fremont constructing totals about 246,000 sq. ft and occupies a roughly 10.5-acre website, in response to business property itemizing providers.
“These high-quality properties are complementary to our portfolio and match completely into our long-term strategic plan for progress.”
