Big developers wheel and deal for choice Fremont real estate sites

FREMONT – A large Fremont property suitable for industrial or technical use has been sold to an alliance led by an experienced real estate and investment firm by development legends John Arrillaga and Richard Peery.

According to documents filed with the Alameda County Recorder’s Office on December 29, the property comprises approximately 27.7 acres in Fremont on the front of Bayside Parkway, Gateway Boulevard and Lakeview Boulevard.

The two sellers were an Arrillaga-run family trust and a Peery-run not-for-profit based in Utah called Deseret Trust Co., according to the county records.

A New York City-based group led by Clarion Partners paid $ 123.3 million to purchase 10 parcels from Peery and Arrillaga, according to real estate documents.

The transaction was a purely cash transaction, as Alameda County’s records show.

The plots are located in an area that is ripe for redevelopment for a variety of uses.

Projects focused on technology, advanced manufacturing, industry and logistics have become popular in Fremont.

The site also has a close connection to the nearby motorway. The properties are located near the Interstate 880 interchange and Warren Avenue.

Additionally, several Tesla operations, including the company’s vehicle plant, are located on the west side of the freeway.

Tesla’s presence has helped support numerous smaller businesses that have sprung up nearby to support Tesla’s manufacturing activities.