Pacific Commons Business Park Taking On Tenants

FREMONT, CA-The Pacific Commons business park here is filling out fast. With less than one million sf of space already developed, the eventual 8.8 million-sf development by Catellus Development Corp. is already more than half spoken for. Much of that came this week, when San Francisco-based Catellus announced a 3.4 million sf lease deal with a Cisco Systems subsidiary. But Intel also recently leased a 74,000-sf building and optioned another 100,000 sf.

Some 774,000-sf in the park has already been developed and leased, about half of it to Home Depot for an office and distribution center. Another 240,000 sf is currently being built, including Intel’s building, which the chip maker has an option to purchase. Catellus spokeswoman Pamela Matthews says her company is in the planning stages for another 1.9 million sf in 10 buildings.

All told, 3.9 million sf covering 119 acres remains to be spoken for, and Catellus is actively marketing the property, which is set up as a sort of urban center, says Matthews. It will include retail amenities such as restaurants and delicatessens. Catellus specializes in developing, managing and investing in commercial, residential, office, retail and major urban development projects. It owns one of the largest portfolios of developable land in the Western United States, capable of supporting over 44.8 million sf of new commercial development and an estimated 15,200 residential units.