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Local Development Company to Purchase 23-plus Acres in Newark

NEWARK, CA-Danville-based Trumark Commercial will purchase 23.5 acres in the 90-acre Stevenson Point Tech Park here for development of a six-building office/R&D project. Current park tenants include Nortel Networks and Vina Technologies.

By Becky Bergman | Updated on January 10, 2001

NEWARK, CA-Danville, CA-based Trumark Commercial has announced that it will purchase 23.5 acres here within the 90-acre Stevenson Point Tech Park for development of six office/R&D buildings. Terms of the deal were not released, but Foster City-based Legacy Partners reportedly has the option of buying the land from the seller — the O’Connor family of Fremont, CA – and flipping it to Trumark.

.The first phase of the development will include three one-story buildings – 39,847 sf, 61,950 sf and 56,803 sf, respectively – which will be ready for occupancy this summer. The local development company anticipates that the second phase of their project, which consists of three two-story buildings – 67,124 sf, 113,057 sf and 67,124 sf, respectively – will be done by the fourth quarter this year.

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