LIVERMORE, CA-Des Moines-based Principle Capital Real Estate Investors is selling off some of the 100 acres here it recently acquired from JJ Dancien LLC for $20 million. The so-called National Road site is one of the last pieces of available land along the I-580 corridor. Principle Capital was one of six different bidders for the property.

The property will most likely be used for high-tech and R&D buildings, says Principle Capital’s managing director Rod Vogel. Among other deals in the works, Principle says it will sell 11 acres to East Bay developer Balch Enterprises, which plans to build four high-end manufacturing buildings that will total 175,000-sf. The company is undecided on whether it will sell or lease the buildings.

Principal Capital’s plans for the property it holds onto include up to 1.5 million sf of flex space. Even though the site is zoned for warehousing, distribution, research and development, Vogel says it will not be used for warehousing. Low vacancy rates coupled with a lack of land make this a prime location for development, he says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.