FREMONT, CA – November 22nd, 2019 – Rev Projects has sold a 52,000 square foot office and R&D asset located at 46335 Landing Parkway in Fremont, California to an owner-user that designs and manufactures chip boards. The transaction was valued at $13,700,000 ($263 per square foot).
“I am proud that the renovations to the building attracted new tenants that are now contributing to the development of Fremont’s economy,” said Eric Wang of Rev Projects. “The biotech tenant in 46305 Landing Parkway will incubate other companies and augment the share of biotech in the submarket, and the owner-user buyer in 46335 Landing Parkway will serve the needs of their major customer, Lam Research, whose headquarters are located just ½ mile away. The arrival of both these companies are a welcome addition to the Bayside business community.”
Rev Projects executed the value-add plan to two suites in the building in just over 18 months. The renovation in the building included new lobby finishes, demolition of outdated improvements, new interior finishes, a new roof, and installation of electric vehicle car chargers.The property is well-located within Bayside Industrial Park, with freeway access, open floor plans, and building top signage with high visibility toward Highway 880.
Rev Projects is a commercial real estate operator and developer that acquires and repositions underperforming or mismanaged properties in the San Francisco Bay Area. In the pursuit to revitalize and rebuild overlooked properties, Rev Projects creatively partners with tenants, brokers, and community leaders in its redevelopment work.
About Rev Projects
Rev Projects is a commercial real estate developer, owner and operator that aspires to revitalize communities, through the repositioning of office, retail, and multifamily properties in emerging submarkets.