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1/09/26
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Tishman Speyer has acquired Christy Street Industrial Center, a 100% leased, 253.4k sf industrial property in Fremont, CA. The asset was sold by funds and accounts managed by BlackRock in a $92.95 mil ($367/sf) transaction.
Photo: Digital Sky Aerial Imaging |
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Christy Street Industrial Center, located at 42840 Christy St, is fully occupied by global electronics manufacturer Sanmina Corporation via a long-term lease. The property features an efficient floorplate, 23- to 26-foot clear heights, 52 dock-high and eight grade-level doors, and above-market parking and power.
Christy Street Industrial Center is located in Fremont, a core industrial hub within the larger Silicon Valley region and one of the Bay Area’s most supply-constrained logistics and advanced manufacturing markets. It boasts direct access to I-880, and efficient connectivity to I-680 and Highways 84 and 237, providing regional reach across the Bay Area and Silicon Valley. The property also benefits from its proximity to key transportation infrastructure, including the Port of Oakland, San Jose International Airport and Oakland International Airport.
Tesla, Quanta Computer, Apple and Bloom Energy have large presences within one mile of Christy Street. Peninsula, Silicon Valley and East Bay’s five million residents and highly educated workforce are all within 30 miles of the property.
“The explosive growth of the AI, power management, electric vehicle, aerospace, and defense industries has generated significant and enduring demand for institutional-quality industrial space across Silicon Valley,” said Tishman Speyer Managing Director Michael Alderman. “We were drawn to Christy Street as a part of our core plus strategy for its strong in-place tenancy, quality floorplate, substantial power and parking, and the opportunity to gain a foothold in the supply-constrained Fremont submarket.”
Tishman Speyer launched its industrial platform in 2021 as a core piece of its global growth and diversification strategy. Since then, the firm has assembled a Class A portfolio of existing industrial assets and development projects in the most sought-after urban markets around the world. In the US, the portfolio includes investments in Orange County, Boston, South Florida and the Bay Area.
Tishman Speyer also recently expanded its European industrial portfolio with two last-mile logistics sites in Dusseldorf, three warehouses within France, as well as a prime development site in Frankfurt.
Rebecca Perlmutter of CBRE brokered the transaction.
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