Union Pacific Sells 22 Acres to Thermo Fisher Scientific for New Facility

A big-banking scientific instrument manufacturer has bought 22 acres of land in order to build a new plant, according to media reports.

The Silicon Valley Business Journal reports that Thermo Fisher Scientific Inc. recently purchased the land from Union Pacific and plans to build a new facility for its 400 employees.

The new building would be a consolidation of the company’s Fremont operations and on property located near the Tesla plant in the Warm Spring district, by the Mission Boulevard and Interstate 880 intersection.

Thermo Fisher currently leases three facilities, which are located just two miles from the site of its new purchase, according to the Business Journal. Its officers are currently located at 46360 Fremont Blvd., 44560 Osgood Rd. and 46117 Landing Parkway.

According to the news report, Thermo Fisher reported $3.11 revenues in the second quarter of 2012, up from $2.9 billion in the same period last year.

Though a spokesperson declined to reveal the cost of the purchase to the Business Journal, a broker told the publication that the land likely cost $15 to $20 per square-foot, or about $14 million.

The deal was closed in July and is the first sale of Union Pacific’s holdings in the area, the Business Journal reports. The railroad company, which is based in Omaha, bought 167 acres from NUMMI after the plant closure in March 2010. The plant itself was sold to electric carmaker Tesla in May of that year.

According to the Business Journal, Union Pacific put 147 acres on the market last October.

Rob Shannon, a veteran broker who represented NUMMI in selling its properties to Union Pacific and Tesla, told the Business Journal that the deal with Thermo Fisher could spark more activity in the area and is “good for the overall market.”

Fremont Economic Development Director Kelly Kline told the Business Journal that the Warm Springs area is a focus site for the city. Officials hope to turn it into a jobs center and capitalize on .

Thermo Fisher’s purchase of land there “validates” the city’s strategy, Kilne told the Business Journal. She said the city aims for Warm Springs to be a base of more than 10,000 jobs.

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