Tishman Speyer Pays $93M for Bay Area Industrial Asset
A global electronics company occupies the property.
Tishman Speyer has acquired the Christy Street Industrial Center, a fully leased 253,440-square-foot industrial property in Fremont, Calif., in the Bay Area. The company purchased the facility from BlackRock for $93 million.
Sanmina Corp., a global electronics manufacturer, occupies the property through a long-term lease, which began in April 2025, according to Yardi Matrix. The Class A development features clear heights from 23 to 26 feet, as well as 52 dock-high doors and eight grade-level doors. Yardi Matrix shows the asset has 120-foot truck courts on each side of the building and 323 car parking spaces.
Major companies have established a presence in the surrounding area, such as Tesla, Apple and Bloom Energy, which operate within a mile of the facility. The Fremont industrial market within the larger Silicon Valley region is experiencing a supply constraint, which fuels a strong competition for well-positioned assets. Demand stems from the growth of the AI, electric vehicle and aerospace industries.
LISTEN TO: Inside Industrial: Scale, Data & Decision Advantage
Built in 1992 on 13 acres, Christy Street Industrial Center was previously acquired by BlackRock in 2005 from Longmeadow Development, according to Yardi Matrix. The warehouse is located at 42735 Christy St. The property offers access to Interstate 880 and a connection to Interstate 680, as well as other local highways. San Jose Mineta International Airport is within 13 miles, while Oakland International Airport is about 22 miles north of the property.
Tishman Speyer launched its industrial platform in 2021 and has been working on expanding its portfolio. The company currently owns industrial properties in Orange County, Calif., as well as Boston, South Florida and the Bay Area.
Big industrial bites in the Bay Area
As of the third quarter of 2025, there were approximately 25 million square feet of vacant industrial space across the Greater Bay Area, resulting in a 6.4 percent vacancy rate, according to CBRE. The same data shows there were 3.4 million square feet under construction.
In nearby Brisbane, Calif., Prologis purchased an 11-asset portfolio for $314.5 million in November 2025, representing the largest Bay Area industrial sale for the year. The portfolio is made up of shallow-bay warehouses. Later that month, Prologis also received approval from the San Francisco Board of Supervisors for the construction of a 1.6 million-square-foot industrial park in San Francisco. The project is awaiting more approvals before moving forward.
On the leasing side, an Ares Real Estate fund signed a 212,683-square-foot deal in October at San Jose Logistics Center in San Jose, Calif. The tenant will occupy the entire building, which sits on a 9-acre lot.
You must be logged in to post a comment.