FREMONT – A large building in Fremont that has been converted into a modern life science site has been purchased by an East Coast company that hopes to capitalize on a hot Bay Area market for this type of real estate relationship.
Diversified Healthcare Trust, acting through an affiliate, paid $82 million for a building at 47071 Baywide Parkway in Fremont, according to documents filed July 27 at the Alameda County Recorder’s Office.
Massachusetts-based Diversified Healthcare, a real estate investment firm, purchased the building through a cash deal, county property records show.
The recently purchased property is known as Fremont Labs and has a total of 88,500 square feet. The building was previously a technology-oriented office and research site.
The deal was arranged through JLL’s commercial real estate executives Adam Lassoff, Dan Renz, Eric Hanson, Michael Manas, Will Connors, Cheri Pearce and Johnny VanDervelden.
“The Bay Area life sciences and biotech market,” Lasoff said, “is one of the strongest in the country.”
Jadian Capital and Graymark Capital, acting through a joint venture, sold the building to show the Diversified Health Care Trust, county assets and state business records.
In 2022, the building underwent extensive renovations to convert the site into a life science property. The two-storey building includes large and open floor areas and laboratory spaces with airlocks.
“Fremont Labs is fully leased as the headquarters location for Alamar Biosciences,” said JLL, a disease-detection company.