CBRE Capital Markets has arranged the sale of Fremont Technology Park, a three-building, 166,758 square foot office/R&D complex located in Fremont, California. Scott Prosser, Joe Moriarty, Jack DePuy and Chip Sutherland of CBRE’s Northern California Capital Markets team represented Cabot Properties in their sale of the property to Peninsula Land & Capital, a private equity investment firm focused on R&D acquisitions and dispositions in the greater Bay Area.
“The demise of nearly 16 million square feet of product throughout Silicon Valley has only amped up demand for R&D spaces in the past few years,” said Scott Prosser, Executive Vice President with CBRE Capital Markets. “That, plus a stable, long-term tenant occupying over 87% of the space, makes this an excellent hold for the buyers.”
Built in 1985, Fremont Technology Park sits just one mile east of Pacific Commons, one of the largest retail centers in Alameda County. Additionally, the opening of the Fremont Warm Springs BART station earlier this year, as well as the addition of over 4,000 residential units in the surrounding area, will help maintain the park as a desirable technology hub for years to come.
“Fremont has seen a fundamental shift in tenants over the past few years,” said Prosser. “Low vacancy, coupled with strong demand from stable, good credit tenants represent an excellent capitalization opportunity for the property.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.