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Bedford Sells R&D Complex for $29M

FREMONT, CA-Bedford Property Investors of Lafayette sells the 268,000-sf six-building complex to D.R. Stephens & Co. of San Francisco. The largest tenant is a division of Johnson & Johnson.

By Brian K. Miller | Updated on January 22, 2006

FREMONT, CA-D.R. Stephens & Co. of San Francisco has acquired a 268,000-sf six-building complex here for $29.3 million. The seller was Bedford Property Investors of Lafayette.

The 91% occupied property fronts Westinghouse Drive and Fourier Avenue, which are south of Mission Boulevard and one block west of Warm Springs Boulevard between Interstates 680 and 880. Five of the six buildings were built in the early 1980s, two of which were remodeled in the late 1990s. The other building was built in 1996.

The largest tenant is Nitinol Development Corp., a division of Johnson & Johnson that occupied about half of the space in the complex. Centillium Communications Inc. is also a tenant.

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