Updated Nov 28, 2024
Prologis Acquires 10.5 Acre Industrial Property In Fremont From Blackstone For $86.6M
48350 Fremont Blvd Fremont, CA 94538, USA
$86,600,000
$351/SF
Building Size
246,450 SF
Asset Type
Industrial
Closing
Aug 2, 2023
About this deal
AI
A 10.5-acre industrial property located at 48350 Fremont Boulevard in Fremont, California, was sold in a recent transaction. The property consists of a 246,450-square-foot industrial and research building. The buyer, Prologis, purchased the property from the seller, Blackstone, for a total sale price of $86.6 million. The price per square foot equates to $351.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $86,600,000
- Address: 48350 Fremont Boulevard
- Market: Fremont
- Acres: 10.5
Prologis, represented by Hamid Moghadam, entered into this deal to acquire the industrial property. Blackstone, represented by Stephen Schwarzman, acted as the seller. This transaction took place as part of Prologis' recent $3.1 billion all-cash acquisition, which included over 14 million square feet of industrial assets across various major markets in the United States.
Players
Los Angeles Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93