|
|
9/06/21
|
Cannae Partners and Blue Vista Capital Management purchased Bayside Technology Park, a 61.5k sf R&D office building in Fremont. The property was sold by Osprey Capital LLC in a $16.55 mil ($269/sf) deal.
The property is located at 47100 Bayside Pkwy, south of Warren Ave and just west of I-880. Chris Shaffer and Kurt Heinrich with Newmark represented both the buyers and the seller, Osprey Capital LLC.
“The East Bay is a highly sought-after office submarket in the Greater Silicon Valley, propelled by regional companies looking to grow out of San Francisco and North San Jose/Santa Clara,” said Shaffer. “Demand for high-end R&D office product in this vicinity remains high. Moreover, this is a very well positioned Class A asset, especially because of its size for a HQ facility.”
The current tenant will soon vacate the premises, and Newmark will be marketing the building for lease in Q2 2022. The Greater Fremont/Milpitas market gained momentum in the second quarter of 2021 as tours and deal flow activity have increased significantly, according to Newmark Research. Rents held firm quarter over quarter and vacancy rates declined to 7%. The lab sector continues to be the strongest, with demand continuing to outpace inventory.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
