January 5, 2010
The 365,000 square foot Fremont warehouse which served as a distribution center for Mervyn’s, has reportedly been sold. We previously reported on the availability of the warehouse space back in February of ’09.
The property is 365,000 square feet and sits on about 31.5 acres. It was reportedly sold for about $13M to Global Investors Team Inc. The facility is anticipated to be used by Home Elegance.
Pretty good deal for a user. The only problem with Fremont is that they levy a business use tax based on gross receipts (as opposed to some cities which just levy a flat fee or per employee) which is about $.25 for every $1,000 in revenue. This will likely be a small number for such a large user, but for some smaller companies that do big revenue, it can add up.
[via Inside Bay Area]
- 365,000 SF Former Mervyn’s Distribution Facility in Fremont For Sale or Lease
- Solyndra Gets a Boost With $535M Govt Loan
- Mervyn’s HQ Being Sold
- Britannia R&D Park Picked Up for $38 PSF
- Cheaper Rents Bolster Fremont Activity