Colliers closed the off-market sale of a 177,041-square-foot industrial property located at 5555 Auto Mall Pkwy. in Fremont. Vice chairs Greig Lagomarsino and Michael Kendall, EVP Nick Ousman, SVPs Gian Bruno and Nick Mascheroni, VP Kenny Patricia and associate Kylie Jones represented both buyer and seller in the $59-million sale.
“Fremont consistently outperforms both Silicon Valley and I-880 corridor markets in terms of strong rent growth and vacancy rates,” said Kendall. “Industrial inventory in this area is in high demand because of this activity, This will remain consistent as the year progresses, and more properties are traded. We expect to see a continued interest in industrial asset types in response to economic uncertainty.”
Built in 1996, the fully occupied single-story warehouse sits on an 11.31-acre site. The property offers convenient access to major arterials, including US 101, I-680, HWY-237, HWY-84 and HWY-92.
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