TMG Makes Move Near Tesla Motors
TMG Partners and Farallon Capital Management just bought 46555 Landing Parkway, a 117k SF R&D building at Bayside Technology Park near Tesla in Fremont. Formerly occupied by SGI and LAM, plans are to invest capital to bring the building up to market standard and lease to a growing company in Fremont. Both the seller, a partnership, and acquisition price were undisclosed, but reports are speculating the trade occurred at $85/SF, or nearly $10M, and the seller was an affiliate of D.R. Stephens & Co. Chip Sutherland, Sherman Chan and Ben Rojas of CBRE Brokerage Services repped both sides. Winery partner Don Stephens, a lawyer by trade, founded the real estate and private equity investment biz in 1973. Last year we reported on a purchase in Hayward.
