FREMONT — Two Fremont office buildings have been bought for $80.5 million by a group from Chicago in a sign that real estate investors still hunger for tech and biotech properties in Silicon Valley.
The buildings are located near each other in Fremont’s Ardenwood district and were bought by an affiliate of Chicago-based LaSalle Investment Management, documents filed on Sept. 16 with the Alameda County Recorder’s Office show.
Acting through separate affiliates, LaSalle Investment paid $42.5 million for a building at 6500 Kaiser Drive and $38 million for another building at 6300 Dumbarton Circle, according to the Alameda County property documents.
BioMed Realty, a San Diego-based real estate investment trust that focuses on properties geared towards biotech and life sciences tenants, sold both Fremont buildings to LaSalle Investment, the county records show.
The 6500 Kaiser building totals 88,000 square feet and the 6300 Dumbarton building is 44,000 square feet, according to posts on the BioMed Realty website.
Kyocera SLD Laser, a maker of optical products; and Ceterix Orthopaedics, a medical equipment manufacturer, are tenants in the 6500 Kaiser building, according to Google Maps. Novo Nordisk, a pharmaceutical company, leases space in the 6300 Dumbarton building.
It wasn’t immediately clear if both of the just-bought buildings are fully occupied.
Fremont’s Ardenwood district has become a hotbed of companies seeking to operate near Silicon Valley with access to the tech hub from Interstate 880 and the Dumbarton Bridge.
Tech, biotech and life sciences companies have also leased space in Ardenwood because the location places the employees who work in Fremont closer to relatively less-expensive housing in the East Bay than would be the case if they operated in the same kinds of facilities in San Mateo County or San Francisco.
Facebook app owner Meta Platforms is perhaps the highest-profile company in Ardenwood. The social networking behemoth is renting at least 1 million square feet in Fremont’s Ardenwood district.
Source: www.mercurynews.com