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California  + Bay Area  + Finance  | 

Hines, Oaktree Secure Construction Loan on Fremont Industrial

CBRE arranged a construction loan for Milmont Industrial, a 267,000-square-foot advanced manufacturing/distribution facility in Fremont, on behalf of Hines and funds managed by Oaktree Capital Management. Groundbreaking is expected in early 2024.  

A San Francisco-based team of Brad Zampa, Mike Walker and Megan Woodring arranged the loan from an East Coast-based bank. Chip Sutherland and Vincent Machado of CBRE will market the property for lease. 

“Advanced manufacturing has grown substantially in Fremont, and Milmont Industrial’s proximity to high-performing tech companies and long-term growth prospects presented a compelling opportunity,” said Walker. “We are thrilled with the outcome here. Despite the headwinds in the macro capital markets, we were able to secure an accretive balance sheet bank construction loan.” 

Located at 49000-49090 Milmont Dr., Milmont Industrial currently comprises three buildings that will be demolished and redeveloped into a single new facility with high clear heights, heavy power, ample parking and loading docks. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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