First Industrial Realty Trust Expands Northern California Presence with Acquisition of Industrial Outdoor Storage Site in Silicon Valley

First Industrial Expands Northern California Presence with Acquisition of Industrial Outdoor Storage Site in Silicon Valley Aug 04, 2025 First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator, and developer of industrial real estate, has expanded its Northern California portfolio with the acquisition of a 100% leased, low coverage industrial property in one of the strongest submarkets in the U.S. Highway 101 corridor. The property was purchased for $10.6 million.Located at 415 Aldo Avenue and 420 Nelo Street in Santa Clara, this prime infill 2.4-acre site includes a 9,896 square-foot industrial facility and secured yard space, offering rare functionality. The property is proximate to major tech headquarters in Silicon Valley, located just two miles east of U.S. Highway 101, three miles west of I-880, and two miles north of San Jose International Airport. It offers connectivity to San Jose, Sunnyvale, Palo Alto, and downtown San Francisco (approximately 45 miles away)."Silicon Valley continues to experience strong demand for well-located industrial properties, particularly those with usable yard space," said John Quinn, senior regional director and market leader for First Industrial. "This acquisition adds a scarce secured site to our Northern California portfolio in one of the most land-constrained submarkets in the country."First Industrial thanks Ray Devlin of Colliers for representing the company in this transaction. Mark Biagini of Biagini Properties represented the sellers.About First Industrial Realty Trust, Inc.First Industrial Realty Trust, Inc. (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains. Our portfolio and new investments are concentrated in 15 target MSAs with an emphasis on supply-constrained, coastally oriented markets. In total, we own and have under development approximately 70.5 million square feet of industrial space as of June 30, 2025. For more information, please visit us at https://www.firstindustrial.com.Contact: Art Harmon, Senior Vice President, Investor Relations and Marketing - 312-344-4320 DOWNLOAD PDF Return to News