FREMONT — An enormous tech campus in a piece of Fremont that’s change into well-liked with know-how corporations has been purchased by a gaggle headed by a veteran actual property agency.
The Campus @ Ardenwood, a four-building complicated on Kaiser Drive in Fremont, has been bought by an affiliate of Alloy Properties, a life science and innovation subsidiary of Texas-based TPG Actual Property Companions.
Phrases of the acquisition weren’t instantly obtainable.
“We’re excited to develop our portfolio with the acquisition of Campus @ Ardenwood, an anchor facility within the East Bay’s quickly rising Ardenwood submarket,” stated Jacob Muller, managing director with TPG Actual Property Companions.
Campus @ Ardenwood totals about 323,000 sq. toes, in response to a advertising and marketing brochure circulated in 2017.
The vendor within the current deal was an affiliate of RREEF, which is an actual property funding unit of Deutsche Financial institution.
The RREEF affiliate paid $73.3 million in 2018 for the tech campus.
The acquisition is the primary funding within the Bay Space by Alloy, the TPG Actual Property subsidiary.
“Alloy Properties focuses on buying workplace and analysis and growth campuses that may be transformed into best-in-class amenities for all times science, biotech, and innovation,” Alloy states on its web site.
Traders and builders have been drawn to Fremont’s Ardenwood district partly as a result of it’s positioned close to the Dumbarton Bridge and gives prepared entry to the Silicon Valley tech hubs to the west and south and gives a handy commute for tech staff dwelling within the East Bay.
Menlo Park-based Fb has rented at the least 1 million sq. toes within the instant neighborhood of the just-purchased tech campus.
Tenants in Campus @ Ardenwood embrace Logitech, a maker of laptop mice and different peripherals; SportsMedia Know-how, a software program firm; and Boehringer Ingelheim, a pharmaceutical firm.
The campus is 100% leased, TPG stated.
“We stay up for investing within the property’s capabilities to additional solidify its place as a Class A life science and innovation campus,” Muller stated.