Boston-based real estate investment firm Longpoint has recently acquired a three-building light industrial portfolio in Fremont for $31.5 million. The portfolio, known as The Silicon Valley Portfolio, spans 122,168 square feet and marks Longpoint’s first acquisition in the Bay Area.
According to Dwight Angelini, co-founder and managing partner of Longpoint, this well-located and highly functional industrial portfolio aligns with their strategy of investing in properties within thriving markets that have long-term value and growth potential. He also expressed excitement for future expansion opportunities for their logistics portfolio within this market.
The transaction was handled by the Newmark Western Region team consisting of Steven Golubchik, Edmund Najera, Jonathan Schaefler,and Darren Hollak. Additionally,Joe Kelly from Newmark serves as the exclusive leasing advisor for the newly acquired portfolio.
Golubchik commented on the high level of investor interest generated by The Silicon Valley Industrial Portfolio,suggesting strong demand for shallow bay industrial product.He also expressed confidence in Longpoint’s ability to achieve success with this asset going forward.This acquisition marks an important milestoneforLongpointas they make their first move intothe competitive Bay Area market.
