FREMONT — A big industrial and research building in Fremont has been acquired in a transaction that demonstrates continued investor interest in commercial properties, even as the Bay Area office market experiences uncertainty in the aftermath of the coronavirus pandemic.
Prologis purchased the Fremont building from Blackstone for just under $86.6 million, according to documents filed on July 20 with the Alameda County Recorder’s Office.
This acquisition comes shortly after the news that Prologis had agreed to acquire a nationwide portfolio of industrial and research buildings from Blackstone, a deal valued at $3.1 billion.
“We’re delighted to be collaborating with Blackstone on this transaction,” said Dan Letter, President of Prologis.
Prologis’ presence now expands across key markets in the Bay Area, Central Valley, and Southern California.
The recently purchased Fremont building by Prologis is located at 48350 Fremont Boulevard.
Google Maps and regulatory filings confirm that Super Micro Computer is listed as the tenant in the building.
According to commercial property listing services, this single-story building in Fremont encompasses approximately 246,000 square feet and sits on a site of about 10.5 acres.
“These high-quality properties align with our portfolio and perfectly fit our long-term growth strategy.”