Fremont, California, October 7, 2025 – Leaders from California-based North Palisade Partners joined Fremont Mayor Raj Salwan and other City leaders today to officially break ground on the firm’s latest Bay Area development, a 69,872 square-foot advanced manufacturing facility at 43990 Fremont Boulevard named the Palisade Fremont Innovation Center. The start of construction for the project punctuates a continued economic boom in Fremont, with private capital investment following the City of Fremont’s intentional vision and strategy for being a global magnet for high-tech advanced manufacturing that is responsible for major Bay Area job creation and attracting top-tier companies to Fremont.
The groundbreaking caps off North Palisade Partners’s successful acquisition of the 4.2-acre site and approval of a rezoning and General Plan amendment by the Fremont City Council earlier this year, marking the firm’s third asset in Northern California. The firm specializes in creating best-in-class buildings for industrial advanced manufacturing tenants in coastal markets.
This state-of-the-art development, located next door to Home Depot near the intersection of Fremont Boulevard and Auto Mall Parkway, is designed to support the next generation of advanced manufacturing tenants from around the world. With construction now underway, the project is expected to create significant short-term construction employment for local workers. Upon completion, the project is expected to generate over 100 permanent high-tech jobs in advanced manufacturing.
As Fremont city leaders, investors, developers, and high-tech companies continue to work in partnership, many say it’s not an accident that this kind of investment is continuing in Fremont.
“The Palisade Fremont Innovation Center is an exciting addition to our city, offering nearly 70,000 square feet of highly sought-after, modern industrial space,” says Mayor Raj Salwan. “Fremont is leading America’s reindustrialization, and I am pleased to have been able to join our City Council and Planning Commission in voting unanimously in support of this project that will transform a long vacant site into a new innovation hub.”
“The City of Fremont continues to take meaningful action to grow our thriving advanced manufacturing sector while creating quality jobs for our diverse and skilled workforce and growing the City’s tax base,” Salwan added. “I want to thank North Palisade Partners for this investment, which furthers Fremont’s momentum as a leading player in Silicon Valley’s commercial real estate market.”
Mayor Salwan joined North Palisade Partners leadership in the ceremonial shovel-lifting, along with Fremont Councilmember Yang Shao (District 4), Raymond Liu (District 6), Community Development Director Joel Pullen, staff from the City’s Planning Department, leadership from the Fremont Chamber of Commerce, and brokers from Colliers who lead leasing for the project.
“This groundbreaking is bigger than just starting construction on a new, best-in-class industrial building – North Palisade Partners is investing in the City of Fremont’s continued and intentional advanced manufacturing boom,” says North Palisade Partners Partner John Petersen. “Few cities have been as thoughtful in creating a magnet for the sort of hub of the thriving advanced manufacturing ecosystem that will attract companies from across the globe.”
The project brings both economic and community benefits to Fremont, including new tax revenues, $100,000 in community funding for local beautification, and a design focused on sustainability. The project is Palisade’s second acquisition in the City of Fremont and will feature 107 parking stalls, 34 bicycle stalls, EV charging for cars and trucks, and upgraded infrastructure to meet the needs of modern manufacturers.
Notably, the project has also secured 4,000 amps of power from PG&E – which the project sponsors and brokers expect to generate interest from top-tier high-tech tenants.
The project is expected to be completed in mid-2026. Ed Hofer, Dion Campisi and Emerson Hofer with Colliers International are representing North Palisade Partners in leasing efforts. Construction is led by Big-D Pacific Builders, with design by HPA Architects, government and community relations by Progress Public Affairs.