CIP Real Estate Acquires Bayside Industrial Complex in Fremont, California for $103.5 million

Written by Customer Service on . Posted in Mergers And Acquisitions.

IRVINE, Calif., Aug. 16, 2023 (GLOBE NEWSWIRE) — CIP Real Estate today announced the $103.5 million acquisition of the Clipper Court Commerce Center, an industrial park in Fremont, CA. Situated in the premier master-planned Bayside complex between the 880 Freeway and the San Francisco Bay, the property consists of 352,280 square feet of small and mid-bay industrial and flex units across 14 buildings.

The property is currently 89% leased to a variety of technology and advanced manufacturing tenants including BASF Corp., Hyundai Corp., Kaeser Compressors and CTEMS Company. CIP plans to invest over $5 million in additional capital improvements to bring this rare large industrial park to best-in-class status in the East Bay. 

“We look forward to acquiring this unique property due to its size and premium location in Fremont, and gaining valuable space in the East Bay industrial market,” said Eric Smyth, CEO of CIP Real Estate.

The Newmark team of Steven Golubchik and Edmund Najera represented the seller in the transaction. Acquisition financing was provided by J.P. Morgan Asset Management through the Newmark Capital Markets team of Ramsey Daya and Chris Moritz.

About CIP Real Estate LLC
CIP Real Estate LLC is a full-service real estate investment company focused on the acquisition, repositioning, re-branding, and management of industrial assets throughout West Coast, Southeast and Texas markets. Founded in 1995 and based in Irvine, CA, the company owns and manages over 9.5 million square feet of quality properties, with offices in Ontario (CA), Riverside (CA), Hayward (CA), Las Vegas, Charlotte, Atlanta and Dallas. www.ciprealestate.com

Media Contact:

Christine Byrd
Christine@writerbyrd.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.