Jones Lang LaSalle Incorporated : Strong life sciences demand fuels $82M sale of Fremont Labs

SAN FRANCISCO - August 1, 2022 -JLL Capital Markets announced today that it has closed the $82 million sale of Fremont Labs, a recently renovated, Class A life sciences property totaling 89,000 square feet in Fremont, California.

JLL represented the seller, a joint venture between Jadian Capital and Graymark Capital, and procured the buyer, Diversified Healthcare Trust (DHC), which is managed by The RMR Group. This acquisition marks DHC's fourth life science acquisition in the San Francisco Bay area and expands the company's total Bay Area holdings to six.

Fremont Labs is positioned on a 4.7-acre site at 47071 Bayside Pkwy within the Central I-880 corridor of San Francisco. Given San Francisco's rank as the second largest life sciences market in the U.S., the property is surrounded by major life sciences users, is within close proximity to a highly educated labor pool and is close to the world-class research institutions at San Jose State University, Stanford University and Santa Clara University.

Recently renovated in 2022, Fremont Labs is fully leased as the headquarters location for Alamar BioSciences, a pre-clinical stage proteomics (disease detection) company. The two-story building features collaborative open floorplans, premium lab space with airlocks, backup power, double loading docks and 21' ceiling heights, all ideal attributes for life sciences tenants. In addition, tenants have access to an on-site fitness center and cafeteria. Overall, Fremont Labs offers 56% office, 30% lab and 14% manufacturing and warehouse space.

The JLL Capital Markets team representing the seller was led by 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.

"Jadian and Graymark are the first investors in this market to successfully execute on a life science conversion and exit for core pricing," Lasoff said. "This is in part due to the strength of the Bay Area life sciences and biotech market, which is one of the strongest in the country.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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