 |
| Ada Wong |
SAN FRANCISCO, CA – JLL Capital Markets announced it has closed the $14.5 million sale of and arranged $8.9 million in acquisition financing for a 42,816-square-foot, single-tenant, triple-net-leased industrial building in the San Francisco Bay Area community of Fremont, California.
 |
| Mark Detmer |
Additionally,
working on behalf of the new owner, JLL placed the eight-year, fixed-rate loan
with Sentinel Investments.
The
building is situated on 2.63 acres at 48400 Fremont Blvd. in Fremont, the Bay
Area’s premier Industrial submarket.
JLL
Research’s Silicon Valley Industrial Insight - Q4 2020 report
details that the Fremont Industrial submarket had little to no new deliveries
in 2020 and only 666,146 square feet under construction.
 |
| Ryan Sitov |
Additionally,
the property is surrounded by high-profile corporate and technology neighbors.
Completed
in 1996 with concrete tilt-up construction, 48400 Fremont Blvd. houses creative
office and warehouse/manufacturing space.
The
building features high-quality interiors, a 21-foot clear height, three dock
doors, two grade-level doors and ample parking.
 |
| Andie Fezell |
Cintas Corporation (NASDAQ: CTAS), a Fortune 500 company with a credit rating, occupies the building on a long-term, triple-net-leased basis for its Fire Protection and First Aid & Safety service lines.
 |
| David Sesi |
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Director and Co-Head of JLL’s Industrial Capital Markets group Mark Detmer, Senior Director Ryan Sitov and Associate Andie Fezell, along with local market support from Vice President David Sesi and Associate Ada Wong.
The JLL Capital Markets Debt Placement team representing the borrower included Managing Directors Brian Torp and Jordan Angel and Associate Taylor Gimian.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
 |
| Brian Torp |
The
firm has more than 3,700 Capital Markets specialists worldwide with offices in
nearly 50 countries.
For more news, videos and research resources on JLL, please visit our newsroom.
Jones
Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed
with the California Department of Real Estate, license
#01223413.
About BKM Capital Partners
 |
| Brian Malliet |
Combining a deep knowledge of this niche industrial product type with a vertically-integrated operator platform that includes in-house capabilities to reposition and convert existing assets, enhance property management, incorporate leasing management and institutionalize light industrial properties characterized by fragmented ownership positions.
 |
| Jordan Angel |
About The Koll Company
The Koll Company is a well-capitalized full-service real estate operating company headquartered in Irvine, California.
Koll's track record
includes the development and acquisition of over 150 million square feet of
office, industrial, retail, resort, and golf course properties over the past
six decades.
 |
| Taylor Gimian |
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020.
JLL is the brand name,
and a registered trademark, of Jones Lang LaSalle Incorporated.
CONTACT:
Kimberly
Steele
Senior
Associate
Public Relations
JLL
Capital Markets
9
Greenway Plaza, Suite 700
Houston,
TX 77046
T
+1 713 852 3420
M
+1 832 244 9994