FREMONT, CA-Panattoni Development Co. and Principal Real Estate Investors plan to develop spec project here that will result in a 173,296 square foot, modern industrial building.
The partnership recently bought the 9.3 acre property at 48490 Milmont Drive in Fremont from S&S Partnership, according to a report in the San Francsico Business Times. If all goes as planned, the existing warehouse structure will be demolished, and the new building called Milmont Commerce Center will be completed by the end of this year.
"There are very few markets in Northern California where speculative construction for industrial buildings makes economic sense," Tim Schaedler, a Panattoni partner told the Times. "This area, with its high barriers of entry and strong local economy, is an exception."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
