Dermody Properties Acquires 81,704 SF Fremont Industrial Center
Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of industrial real estate in the U.S., recently acquired the Fremont Industrial Center. The 81,704 SF building is located at 2710 Lakeview Court in Fremont, Calif., one of the best industrial markets in the San Francisco Bay Area. Currently, the building is fully leased.
“As we continue to grow our portfolio throughout northern California, the Bay Area is a key market for Dermody Properties,” said George Condon, West Region Partner, Dermody Properties. “We are excited to acquire an Advanced Manufacturing building fronting I-880. The building is seen by hundreds of thousands people each year.”
Fremont Industrial Center sits on 4.96 acres. It features modern office space, loading for advanced manufacturing users and four parking spaces per 1,000 SF. Dermody Properties is planning substantial improvements to the building, including a new roof, interior renovations and HVAC upgrades.
“The Fremont Industrial Center is an outstanding addition to our portfolio in this strategic Silicon Valley submarket,” said Douglas Kiersey, President, Dermody Properties. “The San Francisco Bay Area is a hub for many industries ranging from technology and e-commerce to omni-channel retail, distribution and manufacturing. We are very pleased to add this asset to our portfolio.”
Dermody Properties acquired the Fremont Industrial Center from a private investor. Eddie Shuai, Senior Vice President, and Steven Chon, Senior Vice President, of JLL represented Dermody Properties and the seller in the transaction.
“This acquisition for Dermody provides them a high-profile building in the heart of Silicon Valley and the Advanced Manufacturing Capital,” said Eddie Shuai, Senior Vice President, JLL. “Top innovative tech companies will continue to look at Fremont to locate their advanced manufacturing operations.”
The Fremont Industrial Center is located on the southeast side of the San Francisco Bay at the southern end of the I-880 Corridor submarket. The property is ideally located approximately 12 miles from San Jose, 20 miles from Palo Alto and 31 miles from Oakland. The City of Fremont offers a business-friendly environment and is home to over 1,200 high-tech, life science and clean technology companies.