Updated Mar 10, 2026
Elon Musk Secures Lease For 267,099-SF Advanced Manufacturing Facility From Hines And Oaktree In Fremont
49000 Milmont Drive
Building Size
267,099 SF
Asset Type
Industrial
Closing
Feb 9, 2026
About this deal
AI
The property involved in this transaction is an industrial asset located at 49000 Milmont Drive in Fremont, CA. It encompasses a total square footage of 267,099 and is positioned within a market that is experiencing heightened demand for industrial spaces, particularly from tech and manufacturing sectors.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Lease
- Address: 49000 Milmont Drive
- Market: Fremont
- Landlord: Laura Hines-Pierce & Jeffrey Hines - Hines; Howard Marks - Oaktree Capital Management
- Tenant: Elon Musk - Tesla
The lease transaction involves key players including Laura Hines-Pierce and Jeffrey Hines representing Hines, alongside Howard Marks from Oaktree Capital Management. The tenant, Elon Musk, is engaging Tesla in this agreement to further its ambitions in robotics and AI-driven products through the newly leased facility.
On the Map
Industrial
View full map
Players
Fremont Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
Loading comparables…
Deal FAQ
Browse Fremont industrial leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93