Your Commercial Real Estate Source in the San Francisco Bay Area
By Blanca Torres
TMG Partners of San Francisco and Alcion Ventures of Boston teamed up to buy three vacant buildings totaling 235,000 square feet in Bayside Technology Park in Fremont.
Terms of the deal were not disclosed.
The purchase is somewhat of a deja vu for TMG, which bought 1.5 million square feet in the Bayside Technology Park in 2005 and sold it a year later.
“As we have history with this property, we feel we will be able to identify high quality tenants and provide competitive leasing proposals,” said Michael Covarrubias, chairman and CEO of TMG Partners. ”We are confident that the uptick in demand for tech space will continue.”
This is the first joint venture between TMG and Alcion, a real estate private equity firm that manages more than $845 million in investment capital.
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