4040 Nelson Avenue is a 184,999 square-foot R&D and warehouse facility located in Concord, California. Owned and occupied by Siemens since construction in 1989, 4040 Nelson was purchased in August 2012. In January 2013, Siemens moved out of the original 151,198 square foot facility and Harvest began the demolition and build-to-suit of a new 184,999 square foot facility for Fresenius Medical Care, including a new roof, HVAC system, updated office space and cafeteria. The construction of the new 45,981 square foot warehouse and rehabilitation of the R&D portion of the facility was completed in October 2013. The property now serves as Fresenius’ West Coast headquarters and sole testing, assembly and service department for North America. Harvest and its investors intend to hold the asset on a long-term basis given the strong yield and limited tenancy risk.
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