Overton Moore Starts 830,000-SF Project

SEAL BEACH, CA-Overton Moore Properties of Gardena has kicked off construction on its 44-acre, 830,000-sf Pacific Gateway Business Center at the intersection of Seal Beach Boulevard and Westminster Avenue, one of the largest industrial developments in Orange County. Comprising 10 buildings, the new development is what Overton Moore calls a hybrid, with each of the buildings combining light industrial and office uses.The combination is designed for tenants who need to consolidate corporate business and operations such as warehousing, distribution, light manufacturing and assembly. The site will also accommodate tenants who need a greater proportion of office space.This first phase of the development includes six buildings and is slated for completion in November. Overton Moore Properties is developing the project on land that it acquired from Boeing Realty Corp.The development site is both rare and well located, according to Timur Tecimer, president and COO of Overton Moore Properties. He cites the "extreme demand for new industrial space" in a West Orange County market where the vacancy rate is approximately 3.4%.Overton Moore and its brokerage team from CB Richard Ellis are targeting companies from both Los Angeles and Orange County as potential tenants because of the central location of the project, according to Brian DeRevere of CBRE. The marketing team is promoting the proximity to the ports of Los Angeles and Long Beach as well as access to the 405, 605 and 22 freeways and the Long Beach and John Wayne Airports.Other members of the CB Richard Ellis sales and leasing team include Bob Goodmanson and Ryan Peterson.