|By PR Newswire||
|February 27, 2014 06:26 PM EST||
LOS ANGELES, Feb. 27, 2014 /PRNewswire/ -- Anticipating continuing demand for industrial and manufacturing/distribution space and the long-term strengths of the San Francisco Bay Area Industrial market, Los Angeles-based Overton Moore Properties (OMP) announced today a ground breaking on a 40.5 acre site in Fremont, CA and commencement of construction of 691,000 square feet of Class A Industrial Buildings – The Crossings @ 880.
The Crossings @ 880 is the largest industrial business park to be constructed over the past fifteen years within the San Francisco Bay Area and will be completed by the end of the 4th quarter of this year. The property situated along more than 3,600 feet of freeway frontage on the I-880 Freeway at the Dixon Landing will consist of three state of the art industrial buildings representing 691,000 square feet. The buildings will range in size from 175,000 to 311,000 square feet and can accommodate one to six tenants. With over 168,000 traffic counts a day along I-880, The Crossings @ 880 will be marketed to Silicon Valley users looking for easy access to Highway 237, Class A "best in class" facilities, corporate users looking to establish a high identity headquarters location with prominent visibility, and distribution users who want immediate access to the I-880 and infill markets within the San Francisco Bay Area.
The business park will provide many features and amenities addressing the needs of corporate users including dramatic entry features, 32' clear height, extensive dock doors, trailer parking stalls, ESFR system, auto parking to accommodate manufacturing users and extensive landscaping . "It's rare in the development business to find such a unique property on an interstate, with immediate freeway access, in a pro-business city, along with strong market conditions and very little development activity" noted Timur Tecimer, CEO of Overton Moore Properties. The project also includes the extension of Fremont Boulevard to Dixon Landing Road and I- 880 , a long sought after improvement needed in the area. "Very few buildings within Silicon Valley have the floor plate size, building features, and freeway access that tenants now demand to make their operations more efficient and cost effective. The project has been well received," noted Rob Shannon, Senior Vice President for CBRE.
Rob Shannon, Joe Kelly and Bob Ferraro of CBRE will be representing OMP and The Crossing @ 880. The project is a joint venture with LaSalle Investment Management, a Chicago based institutional investment manager. The offsite improvements are being completed by Top Grade Construction, Onsite and shell construction by Oltmans Construction Company. The architect for the project is Ware Malcomb.
Ranked among the top real estate developers and investors in Los Angeles County by the Los Angeles Business Journal, Overton Moore Properties (OMP) is a privately held company specializing in real estate development, acquisition, master planning, marketing, asset management, property management, construction management, and financial reporting of industrial, office and mixed-use projects. OMP's long-term franchise value, local market knowledge, deep relationships with tenants and the brokerage community and strong institutional relationships have contributed to its success throughout the past 42 years. OMP has constructed and acquired more than 34 million square feet of office, industrial, and mixed-use space, developing more than 1,598 acres of raw land throughout California and Arizona. The firm also owns and manages over 6 million square feet.
SOURCE Overton Moore Properties