Tesla Motors has bought the old United Auto Workers union hall in Fremont, according to a report from Bizjournals. The EV manufacturer bought the site at 45201 Fremont Blvd. last week, according to public records. As of now, there is no information about Tesla’s plans for the site.
No details about the price
There was no available information regarding the price either, but Sperry Van Ness, the firm that was marketing the property, demanded $4.26 million, says the report. Detroit-based United Auto Workers was the seller.
Within the campus, there is a 16,470 square-foot building. It is approximately four acres and is located in the vicinity of the Tesla factory. Ed Mendence, the Sperry Van Ness broker, did not offer any details about the transaction, citing a nondisclosure agreement. However, within the agreement, it was mentioned that the property is a “gateway” location situated in the newly rezoned Warm Springs Innovation District, which is an 850-acre area around the BART station that is currently being considered a hot location by developers.
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Also big developers such as Lennar, Toll Bros and Valley Oak Partners have been invited to build projects in the area. The layout has 4,000 housing units, in addition to enough commercial space to allow for more than 12,000 new jobs.
Tesla aggressively buys property
Tesla Motors purchased its manufacturing facility from New United Motors Manufacturing Inc. in 2010, and in June 2013, the company bought about 35 acres on the factory’s southern end from Union Pacific, including a test track. Tesla’s current auto factory was once the union shop responsibility for shipping out cars for General Motors or Toyota.
Tesla Motors has been acquiring land aggressively, and earlier this year, it leased a 430,000 square foot industrial building in Lathrop. Just a few months ago, Tesla Motors leased about 90,000 square feet of space at 1250 Elko Drive in Sunnyvale. Additionally, the automaker’s suppliers have been increasing their presence in the region. The company is still looking for some big industrial and office space in the region as well, says the report.
On Monday, Tesla shares closed down 0.93% at $225.71.