$27.5M In Financing Secured For Fremont Tech Park II
Gantry has arranged $27.5M in permanent financing for Fremont Tech Park II, a 140K SF campus composed of three buildings in Fremont, California. The owner of the property is Dollinger Properties, as first reported by The Registry.
Tony Kaufmann, director at Gantry, represented Dollinger in the financial proceedings. The 11-year, fixed-rate loan was provided by one of Gantry’s life company lenders.
“Light industrial/R&D space remains in high demand from the many technology and life sciences companies that call the Bay Area and Silicon Valley home,” Kaufmann said. “Well-maintained, mature properties like Fremont Tech Park II have performed well during the pandemic as the demand for flexible lab space has surged.”
Fremont has seen a surge in demand in the biotech and life sciences segment for the past two years, with industrial investors and developers showing bullishness in Silicon Valley and the South Bay, and other parts of the Bay Area, as companies begin to concentrate less on San Francisco and move into the outer cities.
With the amount of venture capital being poured into the biotech and life sciences industries, the demand for lab and office space is at an all-time high, which has led to heavy competition as available space has hit a premium.