Fremont Warehouse Market Is Red Hot
A California-based wholesale furniture manufacturer jumped at the chance to nab a large warehouse for sale, which doesn't happen often in Silicon Valley. San Diego-based Westcore sold a 255k SF warehouse to Homelegance for $20.8M. Located at 47550 Kato Rd in Fremont, the building is set on 13.3 acres and has high visibility on I-880. CBRE's Craig Bevan and Doug Norton of CBRE repped Westcore Properties, and Colliers' Casey Ricksen repped Homelegance.
Westcore bought the property in 2012 as part of a $45.6M, four-building portfolio called Kato Industrial Park. The high demand for Silicon Valley warehouses (cause sometimes an Internet billionaire needs a fortress of solitude) led Westcore CEO Don Ankeny to sell a slice of his portfolio rather than lease the building. What lured Homelegance? The Kato property is served by two interstates, multiple rail transport lines, three airports and the fifth largest port in the country (the Port of Oakland), featuring 37 dock-high doors and 210 parking spots.
