CBRE has successfully arranged a construction loan for Milmont Industrial, a state-of-the-art manufacturing and distribution facility spanning 267,000 square feet in Fremont. The financing was secured on behalf of Hines and funds managed by Oaktree Capital Management. Groundbreaking for the project is expected to take place in early 2024.
The loan was facilitated by CBRE’s expert team based in San Francisco, including Brad Zampa, Mike Walker, and Megan Woodring. They were able to secure funding from an East Coast-based bank with the assistance of Chip Sutherland and Vincent Machado who will be responsible for marketing the property upon completion.
According to Walker, Fremont has experienced significant growth in advanced manufacturing industries making it an ideal location for Milmont Industrial. Its close proximity to thriving tech companies coupled with its long-term potential make it a highly desirable investment opportunity.
Milmont Industrial is situated at 49000-49090 Milmont Dr., currently consisting of three buildings that will be demolished to make way for one modern facility featuring high clear heights, robust power capabilities as well as ample parking and loading docks. This development marks another successful collaboration between Hines and Oaktree Capital Management as they continue their commitment towards delivering top-quality industrial spaces across California.
