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3/25/21
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The Koll Company acquired a 42.8k sf, single-tenant, NNN-leased industrial building in the San Francisco Bay Area community of Fremont. The asset was sold by BKM Capital Partners in an off-market transaction worth $14.5 mil ($339/sf).
Completed in 1996, the building is situated on 2.63 acres at 48400 Fremont Blvd. Built of concrete tilt-up construction, the structure houses creative office and warehouse/manufacturing space.
The building features high-quality interiors, a 21-foot clear height, three dock doors, two grade-level doors and ample parking. Cintas Corporation, a Fortune 500 company with a credit rating, occupies the building on a long-term, triple-net-leased basis for its Fire Protection and First Aid & Safety service lines.
Adjacent to Interstates 880 and 680, the proeprty’s infill location is proximate to Silicon Valley’s Fremont Innovation District, an 879-acre hub of advanced manufacturing and clean technology centered around the new Warm Springs/South Fremont BART station. Additionally, the property is surrounded by high-profile corporate and technology neighbors.
Mark Detmer, Ryan Sitov, Andie Fezell, David Sesi and Ada Wong with JLL Capital Markets represented the seller in the deal. Brian Torp, Jordan Angel and Taylor Gimian with JLL Capital Markets Debt Placement team arranged an $8.9 mil, eight-year, fixed-rate acquisition loan through Sentinel Investments for the buyer.
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