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6/05/23
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Madison Capital Group purchased a 575.8k sf R&D property in the East Bay city of Fremont in a deal reported to be worth $260 mil. The asset, previously used as a manufacturing plant by Solyndra, was sold by Seagate Technology, who remains the sole occupant as part of a lease-back included in the transaction.
The facility, originally constructed in 2010 for around $300 mil, was acquired by Seagate in 2013 for $90 mil. The property was redeveloped into its current R&D use in 2016 to the tune of $200 mil.
The LEED Gold facility sits on 30 acres at 47488 Kato Rd, just east of I-880. The two-story building offers mezzanine space, 100k sf of clean room/lab build-out, an office, a lounge and a conference room. In addition, there are 590 parking spaces, 20 dock roll-up doors and an extra 10 undeveloped acres for future expansion.
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