LOS ANGELES – February 11, 2016 – A fund advised by CBRE Global Investors has acquired a Class A two-building R&D/manufacturing property totaling 199,352 square feet near Silicon Valley. The buildings are fully leased to an industry-leading renewable energy firm that manufactures solar panels.
The buildings are located at 47700 Kato Road and 1055 Page Avenue in Fremont, California, with direct freeway frontage along the I-880 connecting Silicon Valley to Oakland. This location provides excellent access to three major airports and the Port of Oakland as well as immediate access to the “Golden Triangle” of Silicon Valley to the south.
Both buildings, which are critical-use facilities for the tenant, have recently undergone extensive interior, structural, and mechanical upgrades to meet state-of-the-art R&D/manufacturing specifications customized to their needs. The majority of these upgrades were funded by the tenant, demonstrating their commitment to the facilities.
“The Oakland market is a target industrial market for us, and the 880 Corridor in particular has been one of the strongest and most active submarkets in the MSA due to its ability to accommodate large corporate space requirements,” said Kim Hourihan, Portfolio Manager, CBRE Global Investors.
About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.0 billion in assets under management* as of December 31, 2015. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment firm for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.