Newmark Facilitates $27.1 Million Sale of High-Power Industrial Facility in Fremont, California

June 16, 2025 9:00 AM

Newmark announces the company has arranged the sale of 401 Whitney Place, a 72,776-square-foot high-powered industrial building located at 401 Whitney Place in Fremont, California. The asset was acquired by Hines for $27.1 million, approximately $372 per square foot.

Newmark Executive Vice Chairman and President, Western Region Capital Markets Steven Golubchik, Vice Chairman Edmund Najera, Managing Director Darren Hollak, Associate Director Francesca Zappula and Associate Director Brendan Raney represented the undisclosed seller in the transaction.

“401 Whitney received extensive interest from a wide range of investors, including industrial funds and new market entrants with a power and infrastructure thesis,” said Golubchik. “The competitive process resulted in a depth of buyers and expedited execution for our client.”

The property is 100% leased to Bloom Energy, a leading AI data center power provider. Bloom Energy servers (“Bloom Boxes”) generate electricity on-site using natural gas, biogas or hydrogen through an electrochemical process, converting gas to electricity.

Strategically located along the Warm Springs Corridor just off the I-880 Freeway, 401 Whitney sits in the premier Bay Area industrial submarket. The property features existing improvements including three dock-high and three at-grade roll-up doors, 24-foot ceiling heights and 4,000 amps of power. With a low floor area ratio, the site layout provides abundant yard space and ideal ingress and egress for truck loading and unloading, catering to the needs of today’s active users.

Fremont led large-block leasing activity for Silicon Valley in the first quarter of 2025, with 885,000 square feet of leasing achieved, according to Newmark Research. The largest lease in Silicon Valley was in Fremont, with AIVRES, a leading AI data center infrastructure provider, signing a 261,000-square-foot lease at 47550 Kato Road. The Fremont industrial market (excluding warehouses) is comprised of 10.7 million square feet with a 4.9% vacancy rate, outperforming the broader Silicon Valley industrial market’s 6.1% vacancy rate.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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