Hard-drive maker Seagate Technology has sold a 576,000-square-foot advanced manufacturing facility in Fremont, CA to Madison Capital Group for $260 million in a sale-leaseback transaction.
The Fremont plant originally was the site of a controversial solar-panel manufacturing facility that received the largest single federal "stimulus" grant in the 2009 recovery act during the Great Recession.
Solyndra received a $535-million grant to build the $300-million plant, which opened in 2010. Less than a year later, the company filed for bankruptcy, citing subsidized solar panels from China as the primary reason for its failure to launch.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
