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2/05/15
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Healthcare Realty Trust closed on a Bay Area medical office buy, paying $39.25 mil for Civic Center Place, a 110.7k sf ($355/sf) building in Fremont. The property, located at 39141 Civic Center Dr, was purchased from Berkeley Land Company, a real estate firm in Danville.
Built in 1999, Civic Center Place is a four-story building situated on 3.93 acres in Fremont, on the east side of San Francisco Bay. The property was 98 percent leased at the time of sale. The tenant mix is largely healthcare-related organizations, along with other local and nationally recognized companies.
Civic Center Place is adjacent to the Washington Township Hospital Campus and Kaiser Permanente Fremont Medical Center. The building resides along the future “Gateway” to the city’s downtown district. This setting offers multiple routes to surrounding areas and airports.
Based out of Nashville, TN, Healthcare Realty is a publicly-traded REIT that focuses on owning, managing, acquiring and developing outpatient medical facilities throughout the nation. Marcus Muirhead, associate vice president, Greg Guglielmino, senior associate, and Steve Gonzalez, senior vice president, with Colliers International, out of Phoenix, marketed the property, procured the buyer and represented the seller in the deal.
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