FREMONT — A big building in Fremont that has been converted into a modern life sciences site has been bought by an East Coast company that hopes to capitalize on a hot Bay Area market for these kinds of real estate ties.
Diversified Healthcare Trust, acting through an affiliate, paid $82 million for a building at 47071 Baywide Parkway in Fremont, according to documents filed on July 27 with the Alameda County Recorder’s Office.
Massachusetts-based Diversified Healthcare, a real estate investment firm, bought the building through an all-cash deal, the county property records show.
The just-purchased property is known as Fremont Labs and totals 88,500 square feet. The building was previously a tech-oriented office and research site.
The deal was arranged through JLL commercial real estate executives Adam Lasoff, Dan Renz, Erik Hanson, Michael Manas, Will Connors, Cheri Pierce 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 Diversified Health Care Trust, county property and state business records show.
In 2022, the building underwent a wide-ranging renovation to transform the site into a life sciences property. The two-story building includes large and open floor areas and lab spaces with airlocks.
“Fremont Labs is fully leased as the headquarters location for Alamar BioSciences,” which is a disease detection company, JLL stated.