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Zeiss Building

Dublin, CA

The Zeiss Building is a 200,000  square foot Office/R&D facility  located in Dublin, California (San Francisco East Bay area).  The building is leased in its entirety to Carl Zeiss, Inc. and contains approximately 20,000 square feet of sub-lease space.  The original lease term was for 20 years and had 17 years remaining as of September 2002. First Fidelity Investments was originally consulted by the owner, an Atlanta-based investment advisory firm, to provide creative financing alternatives for the property as supported by a long-term, credit-based lease.

 

During the consulting assignment, a purchaser was identified that was familiar with the tenant and facility.  First Fidelity was able to produce an offer ($36,090,000) that far exceeded ownership's value expectation, particularly considering that minimum rent exceeded current market and the property sold to the investor which was a client of a New York-based investment advisor.

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Zeiss Building