BlackRock Trades Fully Leased Industrial to Tishman Speyer

Tishman Speyer has acquired the Christy Street Industrial Center, a fully leased, 253,440-square-foot industrial property in Fremont, from funds and accounts managed by BlackRock for $92,950,000. Rebecca Perlmutter of CBRE brokered the transaction.

Christy Street Industrial Center is fully occupied by global electronics manufacturer Sanmina Corporation via a long-term lease.  The property features an efficient floorplate, 23- to 26-foot clear heights, 52 dock-high and eight grade-level doors, and above-market parking and power.

“The explosive growth of the AI, power management, electric vehicle, aerospace, and defense industries has generated significant and enduring demand for institutional-quality industrial space across Silicon Valley,” said Tishman Speyer managing director Michael Alderman.  “We were drawn to Christy Street as a part of our core-plus strategy for its strong in-place tenancy, quality floorplate, substantial power and parking, and the opportunity to gain a foothold in the supply-constrained Fremont submarket.”

Tishman Speyer launched its industrial platform in 2021.

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