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April 29, 2014 > Meeting the Needs of TodayÕs Industrial Tenants Ð Why IÕm Betting on Fremont

Meeting the Needs of TodayÕs Industrial Tenants Ð Why IÕm Betting on Fremont

By Timur Tecimer, CEO, Overton Moore Properties

Our business climate is rapidly changing, and the industrial real estate market is no exception. With an explosive growth in e-commerce, just-in-time delivery expectations, and the resurgence of local manufacturing/assembly operations in Silicon Valley, we see a strong industrial market. But when we survey the Bay Area real estate canvas, we also recognize the glaring void of state-of-the-art and highly efficient space for these types of uses.

Using a poker analogy, we know a royal flush when we see one, and weÕve decided to play our hand. With a 42-year track record in development, acquisition, master planning, and management of industrial, office, and mixed-use projects, Overton Moore Properties recognized opportunity in the form of a 40-acre site in Fremont, Calif. along the I-880 at Dixon Landing Road. Anticipating continuing demand for industrial and manufacturing/distribution space and the long-term strengths of the San Francisco Bay Area industrial market, we are developing The Crossings @ 880 Ð a three-building project, totaling 691,000 square feet of Class A Industrial space. The project will be completed by the end of the year.

We know we are making a statement by building the largest speculative industrial project in the Bay Area in the last 15 years (and our only project in Northern California). But FremontÕs central Bay Area location and the tremendous freeway frontage and visibility of the site are unbeatable. The City of Fremont staff has been tremendous to work with, and itÕs one of the best pro-business Cities that weÕve encountered. Even better, this project will finally connect Fremont Boulevard to Dixon Landing Road, facilitating a shorter commute from San Jose and the rest of Silicon Valley.

We are marketing to Silicon Valley users looking for easy access to Highway 237, Class A Òbest in classÓ facilities, corporate users looking to establish a high-identity headquarters location with prominent visibility along the I-880, and distribution users who want immediate access to the I-880 and infill markets within the San Francisco Bay Area.

And the fact is, there just arenÕt that many new buildings in the region that accommodate this combination of uses. Manufacturing hubs like Fremont depend on the ability to house not only large manufacturers, but also a wide range of other users that make up the supply chain. So whether itÕs production, final assembly, or distribution/logistics, it all means a strengthening manufacturing base and the economic development benefits associated with that.

So thatÕs why IÕm betting on The Crossings @ 880 and why IÕm betting on Fremont. If youÕre interested in learning more about the project, contact our real estate brokers, Rob Shannon (408-453-7486 or rob.shannon@cbre.com) and Joe Kelly (650-494-5174 or joe.kelly@cbre.com) with CBRE. Alternatively, feel free to call me (310) 323-9100 or send an e-mail: ttecimer@omprop.com.

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