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With more than 1 million square feet of leasing demand projected across the Trophy and Class A market over the next 12 months, quality large block options will begin to decline, JLL predicts.
Kennedy Wilson invested approximately $11 million of equity, including closing costs, and secured a $14-million loan from Freddie Mac at a fixed rate of 4.33% for 10 years.
With Fremont submarket vacancy rates hovering around 2%, Pastakia + Associates has been looking for sites that will add class-A space as close to the existing office users as possible, and the site is perfect for that need.