OMP Starts Fremont Spec Industrial

FREMONT, CA—Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that anticipating continuing demand for industrial and manufacturing/distribution space and the long-term strengths of the San Francisco Bay Area Industrial market, Los Angeles-based Overton Moore Properties has broken ground on a 40.5 acre site in Fremont, CA and commencement of construction of 691,000 square feet of class A Industrial Buildings--The Crossings @ 880.

When GlobeSt.com previously reported on the purchase of the land, Timur Tecimer, CEO of Overton Moore Properties, said that “This land acquisition is a unique opportunity that surfaces once every 10 years…The location, size of parcel and freeway access is tremendous and we are very excited to re-enter the Fremont market.”

As GlobeSt.com previously reported, vacancy rates in virtually every market along the I-880 corridor, including Hayward, San Leandro, Union City, Fremont/Newark, Oakland, Berkeley, Emeryville and Richmond, continue to fall as demand for industrial space grows—a trend that is expected to continue into 2014, says a Lee & Associates report. 

The Crossings @ 880 is the largest industrial business park to be constructed over the past 15 years within the San Francisco Bay Area and will be completed by the end of the Q4 of this year.  The property situated along more than 3,600 feet of freeway frontage on the I-880 Freeway at the Dixon Landing will consist of three state of the art industrial buildings representing 691,000 square feet. 

Tecimer points out that “The project also includes the extension of Fremont Boulevard to Dixon Landing Road and I- 880 , a long sought after improvement needed in the area.”

Rob Shannon, Senior Vice President for CBRE, says that "Very few buildings within Silicon Valley have the floor plate size, building features, and freeway access that tenants now demand to make their operations more efficient and cost effective.  The project has been well received.”

Shannon, along with Joe Kelly and Bob Ferraro of CBRE will be representing OMP and the Crossing @ 880.

The project is a joint venture with LaSalle Investment Management, a Chicag- based institutional investment manager. The offsite improvements are being completed by Top Grade Construction, Onsite and shell construction by Oltmans Construction Co. The architect for the project is Ware Malcomb.

The buildings will range in size from 175,000 square feet to 311,000 square feet and can accommodate one to six tenants. With over 168,000 traffic counts a day along I-880, The Crossings @ 880 will be marketed to Silicon Valley users looking for easy access to Highway 237, class A "best in class" facilities, corporate users looking to establish a high identity headquarters location with prominent visibility, and distribution users who want immediate access to the I-880 and infill markets within the San Francisco Bay Area.

The business park will provide many features and amenities addressing the needs of corporate users including dramatic entry features, 32' clear height, extensive dock doors, trailer parking stalls, ESFR system, auto parking to accommodate manufacturing users and extensive landscaping.

In the summer of 2013, GlobeSt.com reported that “Given its proximity to San Francisco, the South Bay, and access to Southern California, the Pacific Northwest and California's Central Valley, it's [Fremont is] arguably the Bay Area's premier gateway corridor for logistics and transportation.”