CIP Real Estate has purchased Fremont's Clipper Court Commerce Center, a 352,280-square-foot industrial park, for $103.5 million from BKM Capital Partners. The property, located at 4005-4124 Clipper Court and 46704 & 46720 Fremont Boulevard, consists of 14 buildings used for various purposes. The transaction was completed in the Fremont market.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $103,500,000
• Square Footage: 352,280
• Price per Square Foot: $294
• Address: 4005-4124 Clipper Court, 46704 & 46720 Fremont Boulevard
• Market: Fremont

The deal was facilitated by Steven Golubchik and Edmund Najera from Newmark representing both the buyer, CIP Real Estate, and the seller, BKM Capital Partners. The mortgage brokerage services for the transaction were provided by Ramsey Daya and Chris Moritz, also from Newmark. J.P. Morgan Asset Management acted as the lender for the purchase.

As part of the acquisition, CIP Real Estate plans to invest $5 million in upgrades for the Clipper Court Commerce Center, further enhancing the industrial park's value and potential.