FREMONT, CA-Jones Lang LaSalle has been selected to handle the leasing for Fremont Distribution Park, a three-building, institutional, quality warehouse and distribution facility located at 47602-47283 Kato Rd. in Fremont, CA. Driven by the tech sector's boom, Fremont and nearby markets of Newark, Milpitas, Union City and Hayward have seen an uptick in demand for industrial space, driving leasing activity for companies that have reached capacity and need more space to accommodate current and future operations, says JLL.
The JLL industrial and logistics team of Kevin Ahaesy, SVP, Jason Ovadia, SVP and Patrick Metzger, associate, will handle the assignment. “This high-quality industrial park is in a superior location, which will draw a wide range of tenant interest especially among companies seeking a warehouse-distribution location along the I-880 Corridor,” Ahaesy says. “Given its proximity to San Francisco, the South Bay, and access to Southern California, the Pacific Northwest and California's Central Valley, it's arguably the Bay Area's premier gateway corridor for logistics and transportation.”
Built in 1989 and spanning nearly 270,000 square feet, the space features 24-foot clear heights, excellent dock and grade level loading, flexible space options between 9,000 square feet and 42,000 square feet and is fully-sprinklered. The buildings all offer freeway frontage for Corridor access to California's major markets and beyond.
As GlobeSt.com previously reported, companies are even betting on the industrial market here by purchasing land for spec builds. Los Angeles-based Overton Moore Properties recently purchased 40.5 acres just a bit north in Fremont, CA. The property situated along more than 3,600 feet of freeway frontage on the I-880 Freeway at the Dixon Landing exit will be called The Crossings @ 880. “This land acquisition is a unique opportunity that surfaces once every 10 years,” Timur Tecimer, president of OMP, said at the time. “The location, size of parcel and freeway access is tremendous and we are very excited to re-enter the Fremont market.”
And a little further south in San Jose, Trammell Crow Co. and joint venture partner Principal Real Estate Investors recently purchased a 57-acre land site from Cisco Systems Inc. located near the existing Cisco campus in North San Jose, CA and is evaluating a number of opportunities including speculative industrial development, land parcel sales and build-to-suits, and now, Overton Moore Properties is doing the same.
As GlobeSt.com previously reported, the demand is there for industrial. Cyndi Thomas, VP of Urdang Capital Management, recently pointed out that “There is growing demand for large manufacturing and warehousing facilities as multinational technology firms expand aggressively and attract suppliers to the region.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
