Dollinger Lands $28M Refi for Silicon Valley Industrial Asset
The company bought the tech park in 2015 for $19.7 million.
Fremont Tech Park II
Dollinger Properties has secured $27.5 million for the refinancing of the 140,000-square-foot Fremont Tech Park II in Fremont, Calif. Gantry arranged the 11-year, fixed rate loan, provided by United Omaha Life Insurance, on behalf of the owner.
Originally built in 1998, the property has been modernized and well-maintained throughout the years, featuring high-image design and landscaping. The owner bought the asset in September 2015 for $19.7 million. Tenants at the tech park include Equity Office Properties, Flash Electronics and Pacira Pharmaceuticals, according to CommercialEdge data.
The three-building, light industrial/R&D flex-tech campus is located at 46400 Fremont Blvd., one mile west of Interstate 880, providing easy access into California’s San Jose, Fremont and Oakland areas, and generally into the Greater Silicon Valley region. Gantry’s Director, Tony Kaufmann, said in prepared remarks that properties such as Fremont Tech Park II performed well during the pandemic due to the demand for flexible lab space. According to Gantry’s Principal Mark Ritchie, the trend of lenders competing for loans tied to industrial properties will continue in 2022.
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