Fremont Business Park

Location: Fremont, CA
Type: Office
Price: $ 9,200,000

SMC has provided a $9,200,000 first mortgage loan to recapitalize Fremont Business Park, a 119,038 SF office park located in Fremont, CA. Fremont is situated at the edge of Silicon Valley, in Northern California. The property contains 55 tenant suites in 119,038 SF, and operates under a micro-suite concept. Over $2.5 million of capital improvements were recently made at the property. The upgrades transitioned the property into a more modern and functional asset. Upgrades include renovated common areas, new conference rooms, fitness facility, roof replacement, exterior painting, new restrooms and ADA upgrades. The sponsor previously purchased the fee simple interest in the Property on all-cash, and the subject transaction provided leverage for the property.