FREMONT — A big tech and manufacturing complex in Fremont has been bought in a deal that suggests Bay Area real estate still maintains islands of strength despite a wobbly economy.
Clipper Court Commerce Center has been bought for $103.5 million, according to the buyer, CIP Real Estate.
The complex is leased to an array of tech and advanced manufacturing companies.
Newmark commercial real estate brokers Steven Golubchik and Edmund Najera helped to arrange the property purchase. The transaction was completed on Aug. 16, documents on file with the Alameda County Recorder’s Office show.
The 14-building commerce center’s tenants include Hyundai, BASF, Hyundai, Kaeser Compressors, Advantive Technologies, Clearink Displays and CTEMS. according to the buyer and information on Google Maps.
The complex totals roughly 352,300 square feet. The seller was a group affiliated with Los Angeles-based Canyon Partners, an investment firm, state business records show.
The tech and manufacturing center has addresses of 4005 through 4124 Clipper Court, and 46704 and 46720 Fremont Boulevard in Fremont.
“We look forward to owning 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, chief executive officer with CIP Real Estate.
The new owner of the tech park has completed more than $2 billion in real estate transactions, the company states on its website. CIP Real Estate owns and manages more than 9.5 million square feet of properties.
The real estate firm is planning wide-ranging upgrades for the just-bought Fremont complex.
“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,” the company stated.