Diversified Healthcare Trust, a company managed by The RMR Group, has acquired Fremont Labs, an 89,000-square-foot life science property in Fremont, Calif., for $82 million. A joint venture between Jadian Capital and Graymark Capital sold the asset, previously bought in 2020 for $17.4 million, CommercialEdge data shows. JLL represented the seller in transaction.
Redeveloped in 2017 and renovated in 2022, Fremont Labs is a Class A, two-story building that comprises office, lab and manufacturing space. The property features 21-foot ceiling heights, open floorplates, double loading docks and an on-site fitness and cafeteria. The facility was fully leased at the time of sale to Alamar BioSciences, a pre-clinical stage proteomics company.
Located at 47071 Bayside Parkway, the 4.7-acre property is some 7 miles from downtown Fremont just west of Interstate 880, connecting it to San Jose. Intuity Medical, ISE Labs Inc., Bionova Scientific Inc. and Cytek Biosciences are also nearby.
JLL Managing Director Adam Lasoff, Senior Directors Dan Renz and Erik Hanson, Director Michael Manas, Senior Managing Director Will Connors, Vice President Cheri Pierce and Analyst Johnny VanDerVelden worked on the transaction.
The acquisition marks DHT’s fourth life science property investment in the Bay Area. The company owns a total of three medical office buildings and ten life science assets throughout California. One of them is The Muse at Torrey Pines, a $100 million, 186,000-square-foot office and laboratory property in San Diego, partially leased to Surgalign Spine Technologies.