Quanta Manufacturing Fremont, a California-based subsidiary of Taiwan's Quanta Computer that specializes in electronics and advanced hardware production, has signed a new lease for 143,086 square feet of industrial space at 7411 Central Ave. in the East Bay city of Newark, California.
The building is owned by Palisade Group, a full-service real estate firm founded in 2023 and specializing in the acquisition, repositioning and development of industrial, office and specialized properties across select U.S. markets, as well as Chicago-based Pearlmark Real Estate.
The single-story industrial building at 7411 Central Ave. was built in 1997 and sits on an approximately 8-acre site in the Baypointe Centre business park.
Palisade and Pearlmark closed on the acquisition of 7411 Central Ave. in November for $34 million with plans to fully modernize the building, including upgrading the power infrastructure, improving building systems, adding office space and enhancing employee amenities.
The property has an efficient rear-loading design, above-market dock-high door count, 24-foot clear heights, and immediate access to Interstate 880, the Dumbarton Bridge and the surrounding Fremont, San Jose and Bay Area markets.
Quanta Manufacturing Fremont is expected to begin occupying the entire building.
The deal represents a successful execution of the repositioning strategy that Palisade and Pearlmark outlined when they acquired the property.
For the record
David Sesi, Joel Yungen and Jason Ovadia of JLL represented the landlord alongside Ed Hofer and Casey Ricksen of Colliers.