Tesla and Facebook Give Stamp of Approval to Area
Sora Apartments, a 250-unit multifamily asset, recently sold for $91.5 million and its location near the Union City-Fremont border provides residents with access to major employers and transportation.
UNION CITY, CA—Due to expansions by tech giants, the Union City/Fremont area is getting noticed. Case in point is Sora Apartments, a 250-unit multifamily asset, which recently sold for $91.5 million. The property was built in 1983 on nearly 10 acres within a low-density garden-style setting.
Institutional Property Advisors/IPA, a division of Marcus & Millichap, announced the sale. IPA senior director Salvatore Saglimbeni, IPA executive director Stanford Jones and IPA senior director Philip Saglimbeni represented the seller, Fairfield Greenhaven LLC.
“Sora’s location near the Union City-Fremont border provides residents with convenient access to major employers, key transportation corridors and popular retail, dining and recreation options,” said Salvatore Saglimbeni. “The area’s relative affordability in contrast to much of the Bay Area make it a popular destination for renters and employers. Both Facebook and Tesla are expanding into the neighboring Ardenwood district of Fremont.”
The property is near the Union Landing Shopping Center and major Bay Area job centers. Commuters have access to employers via interstates 880, 680 and 580, the Dumbarton Bridge, the San Mateo Bridge and BART.