Fortress Investment Group is expanding its footprint in Fremont through its most recent acquisition. According to a closing announcement, the New York-based company purchased a 93,385 square-foot warehouse at 42744 Boscell Road for $29 million, or about $310 per square foot. The seller in the transaction was a joint effort between Weiglein Properties, Sveiks Holdings and Glade Barne Holdings.
The sale closed on June 3 and was arranged by Colliers’ Rick Keely and Greig Lagomarsino. Both Lagomarsino and Keely represented the seller in the transaction, while Keely represented the buyer. In November of 2021, Colliers also helped Fortress secure another nearby warehouse at 47550 Kato Road.
Currently, the warehouse is fully leased by two tenants and features 6,886 square feet of office space, eight loading docks and 11 grade level doors. Built in 2000, the property is also situated on 6.27 acres of land and offers 200 parking spaces. Since it was constructed, the building has also received approximately 7,000 square-feet of building improvements.
The property is located just off Interstate 880 in a primarily commercial area. Pacific Commons Shopping Center and other retail and dining amenities are within close proximity of the building. Major companies, including UPS and Amazon, also operate facilities nearby.
Founded in 1998, Fortress Investment Group is a global investment firm with approximately $53 billion worth of assets under management. According to its website, the company specializes in asset-based investments across a diverse range of property types.