Prologis Advances 204,000 SQFT Industrial Facility at Fremont’s Bayside Parkway

A new industrial development is taking shape at 46895 Bayside Parkway in Fremont, California, adding to the city’s robust industrial landscape. The conceptual site plan, developed by Prologis and HPA Architects, outlines a substantial warehouse facility with a total building area of 203,742 square feet.

According to the site plan dated January 29, 2025, the development features a large warehouse space with 29 dock doors that will enhance logistics capabilities in the area. The design includes ample parking space surrounding the facility, with landscape areas integrated throughout the property to maintain aesthetic appeal and environmental considerations.

The project benefits from a strategic location with access to Bayside Parkway, providing convenient transportation connections for future tenants. The site plan also details the inclusion of drive-thru doors and potential office space within the warehouse structure, making it a versatile industrial property that can accommodate various business needs.

This development aligns with Fremont’s position as a manufacturing leader in the region. According to the Kidder Mathews Q1 2025 Silicon Valley Industrial Market report, Fremont leads California in manufacturing jobs, with Mayor Raj Salwan actively advancing policies to streamline permitting and bolster industrial development in the city. These efforts are part of a broader initiative to adapt industrial areas to post-pandemic trends and new logistical demands.

The Kidder Mathews report highlights Fremont’s industrial market strength, showing 229,671 square feet of direct net absorption in Q1 2025, significantly outperforming the previous quarter’s negative absorption. Fremont’s industrial vacancy rate stands at 4.3 percent, with an average rental rate of $1.86 per square foot. The city has 46,839 square feet of industrial space currently under construction, indicating continued growth in the sector.

Notable lease transactions in Fremont during Q1 2025 include AIVRES leasing 261,242 square feet at 47550 Kato Road, Supermicro Computer securing 246,450 square feet at 48350 Fremont Boulevard, and Mitac Industrial leasing 190,503 square feet at 40541 Albrae Street. Additionally, significant projects under construction in Fremont include the 395,125-square-foot Fremont Technology Center, expected to be delivered in January 2025, and the 267,099-square-foot development at 49000 Milmont Drive, slated for completion in May 2025.

The 46895 Bayside Parkway project emerges during a period of policy uncertainty affecting industrial markets. The report notes that tariffs on imports from Canada, Mexico, and China have introduced volatility into supply chains and construction pricing, causing industrial occupiers to reevaluate expansion plans. Construction costs are projected to rise by 4 percent-8 percent according to Skanska’s analysis.

As the project progresses, it will join Fremont’s total industrial inventory of 11,825,090 square feet and warehouse inventory of 17,104,712 square feet, further solidifying the city’s position as a key industrial hub in Silicon Valley.