LaSalle Investment acquires Fremont office buildings for $81M

A Chicago investment firm has bought two office buildings in Fremont with life science tenants for $80.5 million.

Affiliates of LaSalle Investment paid $42.5 million for a building at 6500 Kaiser Drive and $38 million for another building at 6300 Dumbarton Circle, the San Jose Mercury News reported. The seller was BioMed Realty, based in San Diego.

The price for both buildings comes out to $610 per square foot.

The 88,000-square-foot property at 6500 Kaiser is occupied by Kyocera SLD Laser, a maker of optical products, and Ceterix Orthopaedics, a medical equipment manufacturer, according to Google Maps.

The 44,000-square-foot building at 6300 Dumbarton is occupied by Novo Nordisk, a pharmaceutical company headquartered in Denmark.

It’s unclear if both buildings were fully occupied at the time of sale.

The tech-heavy Ardenwood district in Fremont has become popular for companies seeking to operate near Silicon Valley, with access to Interstate 880 and the Dumbarton Bridge.

Tech, biotech and life sciences companies have also leased space in Ardenwood because it puts employees closer to less expensive housing in the East Bay, according to the Mercury News

The area’s highest profile firm is Meta Platforms, owner of Facebook, which now leasesi at least 1 million square feet in Ardenwood.

— Dana Bartholomew

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