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**Fremont Warehouse Sells for $59 Million in Off-Market Deal**
Colliers has announced the off-market sale of a 177,041-square-foot industrial property located at 5555 Auto Mall Parkway in Fremont, California. The property was sold for $59 million.
The transaction was facilitated by Colliers’ team of experts including Vice Chairs Greig Lagomarsino and Michael Kendall, Executive Vice President Nick Ousman, Senior Vice Presidents Gian Bruno and Nick Mascheroni, Vice President Kenny Patricia, and Associate Kylie Jones. The team represented both the buyer and the seller in the deal.
“Fremont consistently outperforms both the Silicon Valley and I-880 corridor markets in terms of strong rent growth and low vacancy rates,” said Michael Kendall. “Industrial inventory in this area is in high demand because of this activity. We expect this trend to continue throughout the year as more properties are traded. Interest in industrial assets will likely remain strong in response to ongoing economic uncertainty.”
Built in 1996, the single-story warehouse is fully occupied and sits on an 11.31-acre site. The location offers convenient access to major transportation routes, including US 101, I-680, Highway 237, Highway 84, and Highway 92.
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