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JLL Income Property Trust Expands Bay Area Footprint
Chicago-based JLL Income Property Trust acquired Fremont Distribution Center, a fully-leased two-building industrial portfolio totaling roughly 240,000 square feet in Fremont, CA for $47 million. The properties are 100% leased to Quanta Computer, Inc., which has occupied the facility at 45275 Northport Ct. and 45630 Northport Loop E. since the late 1990s as its U.S. corporate HQ. The seller was undisclosed.
“We are pleased to continue to add to our industrial portfolio, especially in this strong market, where this acquisition adds two additional properties to the three we acquired north of here in Richmond in 2016,” said JLL Income Property Trust’s Allan Swaringen.
He noted that Fremont’s location between Oakland and San Jose, along with its proximity to Interstate 880 and the Port of Oakland, reflects its strategy to own high-quality industrial buildings in dense, in-fill locations near essential transportation infrastructure.
CBRE National Partners West’s Rebecca Perlmutter Finkel, along with CBRE local market experts Tom Taylor and Matthew Taylor, represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
