UPDATE: A groundbreaking real estate transaction in Fremont promises to significantly enhance the city’s manufacturing landscape. Just announced, a Chicago-based group, operating as CDECRE LLC, has acquired a 26-acre industrial site at 41777 Boyce Rd for $70.1 million. The deal, finalized on January 8, 2023, was made in cash from the seller, Prologis, a prominent San Francisco real estate firm.
Fremont’s Economic Development Director, Donovan Lazaro, emphasized the transformative potential of this site, stating, “This transaction positions the site to support next-generation advanced manufacturing, powered by exceptional infrastructure and utility access.” The site is strategically located across from the PG&E Newark Substation, a key element in the push for new electricity facilities in the Bay Area.
This development aligns with efforts from LS Power Grid California, which is undertaking two major electricity projects aimed at enhancing power distribution in the region. One project will connect the Newark Substation to a new terminal near the Northern Receiving Station in Santa Clara, further solidifying Fremont’s role as a hub for advanced technology and manufacturing.
Newmark executives Steven Golubchik, Edmund Najera, Darren Hollak, and Brendan Raney played crucial roles in facilitating this significant transaction. Golubchik remarked, “Industrial development sites of this scale are extremely rare in the Bay Area, and even more so in Fremont.”
As Fremont works to attract advanced technology and logistics companies, this acquisition is seen as a pivotal step. The city aims to develop thriving districts for warehouse and manufacturing, which could lead to increased job opportunities and growth in innovation. Lazaro encapsulated the sentiment: “It’s a rare opportunity to connect Fremont’s industrial past with its technological future.”
Residents and stakeholders are encouraged to watch for developments as the city moves forward with its strategic initiatives. This deal not only signifies a significant investment in Fremont but also highlights the city’s commitment to becoming a leader in advanced manufacturing and technological innovation.
Stay tuned for more updates on this evolving story as the impact of this acquisition unfolds in the coming weeks.
