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4/16/20
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NYC-based Morgan Stanley Real Estate closed on the acquisition of a 506.5k sf property in the Bay Area that is leased to Tesla. The industrial/office flex facility is located at 901 Page Ave, south of Mission Blvd about midway between I-880 and Warm Springs Blvd, in Fremont.
Although we don’t have the actual sales price, industry sources suggest the property traded for around $110 mil, which works out to over $215/sf.
Tesla leased the facility, formerly home to now defunct solar panel-maker Solyndra, in 2015. The property is just down the street from the Tesla manufacturing property, also in Fremont. That property, at 45500 Fremont Blvd, is considered one of the world’s most advanced automotive plants and has 5.3 msf of manufacturing and office space on 370 acres of land.
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