FREMONT, CA —A group led by a San Francisco-based real estate firm and a Chicago-based investment firm purchased a Fremont office building earlier this month, paying a reported $16.55 million to acquire the property, the East Bay Times reported.
Cannae Partners of San Francisco and Blue Vista Capital Management of Chicago purchased the building at 47100 Bayside Parkway, the East Bay Times reported after viewing documents filed on Aug. 11 with the Alameda County Recorder’s Office.
The purchasing group obtained a $16.68 million loan from New York City-based Argentic Real Estate Investment to finance the purchase, the county property documents show. The transaction was arranged by Newmark, a New York-based commercial real estate firm.
The building, which features 61,400-square-feet of office and research space, was formerly the home of Corsair Gaming, a tech company that is relocating its headquarters to Milpitas.
According to the East Bay Times, the new owners believe the property can attract a wide array of companies, and Newmark already is scouting out potential tenants.
„We are exited to add this asset to our portfolio and are optimistic about the Silicon Valley and Fremont specifically,“ Jamin Seid, an executive with Cannae Partners, told the East Bay Times. „We are looking forward to renovating and leasing up this building.“
Fremont Building Sold To Real Estate, Investment Group – Patch.com
