A Fremont tech and industrial park has landed a big Texas real estate firm as a buyer in a deal that hints at rising property values for the site despite a hazardous economic landscape.
FREMONT — A big Texas real estate company has bought a Fremont tech and industrial park in a $40.4 million all-cash deal that signals rising property values for the site amid a tough post-coronavirus economic landscape.
A vast Tesla electric vehicle factory is a few miles away, and the area is dotted with an array of tech and advanced manufacturing companies. Together, the two buildings total 141,500 square feet, according to a marketing brochure offering the property for sale that was circulated by CBRE, a commercial real estate firm. CBRE brokers Tom Taylor, Matt Taylor, Craig Bevan, Robbie Taylor and Lauren Mewes represented the seller in the deal, according to the company.
In a sign of rising commercial real estate prices in the area, in June 2023, the assessed value of the two-building industrial park was $31.1 million. The price that Hines paid was 29.9% higher. Hines bought the buildings in an all-cash deal, county records show.
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