CBRE successfully secured a construction loan for Milmont Industrial, an advanced manufacturing and distribution facility spanning 267,000 square feet in Fremont. The loan was arranged on behalf of Hines and funds managed by Oaktree Capital Management. Groundbreaking for the project is expected to take place in early 2024.
The financing was facilitated by a team from CBRE’s San Francisco office consisting of Brad Zampa, Mike Walker, and Megan Woodring. They were able to secure the loan from an East Coast-based bank with assistance from Chip Sutherland and Vincent Machado who will be responsible for marketing the property for lease.
According to Walker, Fremont has experienced significant growth in its advanced manufacturing sector making it an attractive location for Milmont Industrial. Its proximity to thriving tech companies coupled with long-term potential make it a compelling investment opportunity. Despite challenges faced in the broader capital markets landscape, CBRE’s team was able to secure a favorable balance sheet bank construction loan.
Milmont Industrial is situated at 49000-49090 Milmont Dr., currently comprising three buildings that will be demolished and redeveloped into one modern facility featuring high clear heights, robust power supply capabilities as well as ample parking space and loading docks.
