DAVIS, CA—Panattoni Development, working with DTZ, has acquired about 15 acres here with plans to develop a class A office, lab, tech space.

DTZ, a global leader in commercial real estate services, says Panattoni Development Company, has gone into escrow on the undeveloped ±14.81 acre site located at 3501 Chiles Boulevard, the property is zoned for a business park and commercial use.

Panattoni plans to develop between ±150,000 and ±225,000 square feet of new class A space on the site, which is said to be the largest undeveloped site in Davis. It is currently approved for development.

The proposed modern campus design will focus on sustainability, technological enhancements and a strong sense of place both indoors and outdoors. San Francisco-based global architectural firm Vitae Architecture will handle the design duties, and Cunningham Engineering, which has done a great deal of work in Davis, including at UC Davis West Village's zero net energy community, will provide engineering services.

“There is a real shortage today of space for mid-size and large companies in Davis. We are pleasantly surprised by the interest, enthusiasm and energy focused on our project. We believe we can deliver high-quality and competitively priced workplaces that will be a valuable addition to the Davis community. Our new project will be one of the last fully zoned, freeway-visible office developments available in Davis,” said Tim Schaedler, a partner in Panattoni Development.

Panattoni has selected DTZ's Jim Gray, and Nahz Anvary, brokers for the project leasing assignment. Based in the firm's Sacramento office, Gray and Anvary specialize in commercial real estate located within the Sacramento region, and both reside in Davis. They are also representing the existing land ownership in the sale to Panattoni.

“We are actively targeting tenants and users for the proposed buildings,” said Gray. “In this early stage, large and mid-sized companies are going to have the opportunity to get the property tailored for their specific needs. There are many companies and institutions in Northern California that might be interested in a presence in Davis due to the ability to collaborate with UC Davis, the highly educated workforce and strong quality of life that exists here.”

Anvary added: “There is a strong relationship between the University of California at Davis and the business community in the region, and we are sharing our planning efforts with both the business community and the university, including with faculty, researchers, departments and operating units. We believe there will be great synergies and opportunities for collaboration providing new space for firms who have relationships with UCD who want close proximity to their academic colleagues and to a talented pool of employees and UCD students.”