BKM Capital Partners Acquires Hannover Industrial Park in Fremont for $43M
BKM Capital Partners has acquired Hannover Industrial Park in Fremont, California, for $43 million in an off-market transaction from an undisclosed private seller. The 165,243-square-foot industrial complex is situated in Silicon Valley’s high-demand I-880 Corridor, a prime distribution and light industrial hub.
The property, located at 4755–4900 Hannover Place and 4377 & 43815 S. Grimmer Boulevard, consists of six buildings comprising nine units, with an average unit size of approximately 18,360 square feet. Currently at 74% occupancy, the acquisition presents a value-add opportunity to lease up roughly 25% of the net rentable area.
BKM Capital Partners plans to invest $1.3 million in targeted capital improvements, including speculative tenant improvements for the three vacant suites, to elevate the overall quality and leaseability of the asset.
“Our ability to secure this deal off-market and at a discount to the seller’s original 2023 purchase price speaks to the strength of our sourcing relationships and our status as a preferred buyer for institutional-grade assets,” said Brett Turner, Senior Managing Director of Acquisitions & Dispositions at BKM.
The acquisition exemplifies BKM’s ongoing strategy to invest in high-quality light industrial real estate in core West Coast markets.
