IRVINE, CA-Gale & Wentworth California, an affiliate of Gale & Wentworth LLC, has purchased the Oaks Business Park in Livermore, CA. Details of the transaction are unavailable.

Located at the corner of West Jack London Blvd. and the new I-84, the 178-acre site is one of the few remaining zoned land opportunities left in the Bay Area. Zoned for flex-tech, office and light industrial development, the property will be subdivided into 35 parcels, ranging in size from 2 to 16 acres.

“We are pleased to have acquired one of the most significant land tracts in the Bay Area,” says managing partner Patrick Murphy. “Located in the direct path of expansion in one of the region’s fastest growing metropolitan areas, Oaks Business Park’s central location affords excellent access to all major highways, as well as the four bridges serving the Bay Area. Oaks Business Park will be a signature campus in this highly desirable region and our flagship to opening up a Northern California office in 2001.”

Land at the park will be available for both sale and build-to-suit opportunities. It is projected that when all construction is completed, the park will encompass three million sf of space, with space divided to suit large and small users alike.

Permitted usages on the parcels include professional and administrative offices, manufacturing, assembling, storage and packaging of products, warehouse and distribution and R&D.

Gale and Wentworth California has acquired more than $150 million in commercial real estate projects since its inception in 1997 and has developed in excess of five million sf of space.

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