The property will most likely be used for high-tech and R&Dbuildings, says Principle Capital's managing director Rod Vogel.Among other deals in the works, Principle says it will sell 11acres to East Bay developer Balch Enterprises, which plans to buildfour high-end manufacturing buildings that will total 175,000-sf.The company is undecided on whether it will sell or lease thebuildings.
Principal Capital's plans for the property it holds onto includeup to 1.5 million sf of flex space. Even though the site is zonedfor warehousing, distribution, research and development, Vogel saysit will not be used for warehousing. Low vacancy rates coupled witha lack of land make this a prime location for development, hesays.
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