DHC Acquires Fremont Life Sciences Facility for $82M
Diversified Healthcare Trust (DHC), a REIT that specializes in healthcare properties, has purchased Fremont Labs, an 89,0000-square-foot, two-story life science property in Fremont, CA. The building, located on Bayside Parkway on the I-880 corridor, sold for $82 million.
Recently renovated, Fremont Labs is 100% leased to Alamar BioSciences, a pre-clinical stage proteomics (disease detection) company. The property features collaborative open floorplans, premium lab space with airlocks, backup power and 21-foot ceiling heights.
“We are excited to be growing our Life Science portfolio in the Bay Area, the second largest Life Science market in the U.S. Given the current increases in interest rates and its effect on real estate values, we are also pleased that we are in a financial position to acquire this property at an attractive valuation,” said DHC President and CEO Jennifer Francis.
The JLL team of Adam Lasoff, Dan Renz, Erik Hanson, Michael Manas, Will Connors, Cheri Pierce and Johnny VanDerVelden represented the seller, a JV between Jadian Capital and Graymark Capital in the transaction.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.