February 13, 2009
The former Mervyn’s distribution facility in Fremont has been put up for sale, or lease. The asset is approximately 365K SF, and sits on a 31.5 acre parcel. There is approximately 26K SF of Office, with the balance 25′-32′ clear height warehouse was was built in 1990. The address is 48200 Fremont Blvd.
The owner is MDS Realty, an affiliate of Chicago-based Klaff Realty which through its partners Cerberus, Lubert Adler, and Sun Capital acquired 23 million square feet of Mervyn’s real estate assets from Target. The company also acquired Mervyn’s headquarters facility in Hayward through the acquisition, but sold it to Capmark in 2006 for $60M, who in turn sold it a year later for $65M to a Southern California investor who intended to hold it as a “revenue-producing asset”. Studley brokered the first sale of that deal, and Marcus & Millichap the second. Not sure that acquisition is going as well as they hoped.
- Mervyn’s to Liquidate and Close; 3000 Northern California Employees Affected
- Mervyn’s Financial Situation Dire; May Be Forced To File BK
- Mervyn’s Files Chapter 11 Bankruptcy
- Mervyn’s 365K SF Fremont Warehouse Sold
- Mervyn’s HQ Being Sold