X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FREMONT, CA-Standard Industries has purchased a six-building, 292,063-sf R&D park here from TIAA Realty for $28 million. The campus is located on Mission Falls Court. The acquisition included 5.23 acres of land for expansion.

Rob Shannon and Joe Kelly of Colliers International represented Standard Industries. George Eckard and Grant Lammersen of Cushman & Wakefield represented TIAA.

In a voicemail message, Shannon tells GlobeSt.com that Standard is a high-net-worth individual holding for long-term appreciation. He could not be reached Thursday for comment on occupancy, availability and lease rates.

“[Standard's] strategy is to buy into recovery markets that we believe have a number of drivers, such as the Silicon Valley, and to be part of the rising rents,” Shannon says.

The campus, referred to by C&W as Mission Falls Business Park, is not the nearby Mission Falls Business Park that changed hands back in August. That development, three R&D buildings totaling 128,000 sf on 7.7 acres, sold to San Diego-based Westcore for $11.2 million. The listing broker, Tyler Kemp of Santa Clara-based CPS tells GlobeSt.com that two of those buildings, which were vacant at time of acquisition, are being renovated and subdivided into smaller units.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.