FREMONT, California – A group led by a San Francisco-based real estate firm and a Chicago-based investment firm acquired an office building in Fremont earlier this month, paying a reported $ 16.55 million to acquire the property, according to the East Bay Times.
Cannae Partners of San Francisco and Blue Vista Capital Management of Chicago bought the building at 47100 Bayside Parkway, according to the East Bay Times after reviewing documents filed Aug.11 with the Alameda County Registry.
The purchasing team received a $ 16.68 million loan from New York-based Argentic Real Estate Investment to fund the purchase, according to county filings. The deal was organized by New York-based commercial real estate firm Newmark.
The building, which has 61,400 square feet of office and research space, was previously home to Corsair Gaming, a technology company that is relocating its headquarters to Milpitas.
According to the East Bay Times, new owners believe the property can attract a wide range of companies, and Newmark is already looking for potential tenants.
“We are delighted to add this asset to our portfolio and are optimistic about Silicon Valley and Fremont in particular,” Jamin Seid, CEO of Cannae Partners, told the East Bay Times. “We are looking forward to renovating and renting this building.”