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BAY AREA NEWS
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Work Started on 1.7 msf Industrial Infill Development in Fremont

6/14/18

Construction has started on Pacific Commons South (PCS), a 10-building, 1.7 msf business park development in the Bay Area city of Fremont. The manufacturing and warehouse project is being developed by a joint venture between Overton Moore Properties and Invesco Real Estate.

The first phase, totaling roughly 1 msf, is now under construction. The ownership purchased the property, the largest mixed-use/industrial infill site in the Bay Area, in 2017.

Pacific Commons South provides opportunities for advanced manufacturing, biotech, clean tech, food production, and warehouse uses in a centralized, high finished, well-established business park. PCS is just three miles from the Warm Springs BART station and provides convenient access to Interstates 880 and 680.

The property is just west of Tesla’s factory and within walking distance from dozens of local restaurants and retail amenities, including the adjacent Pacific Commons Shopping Center. The project is adjacent to the Don Edwards Wildlife Reserve and also features walking trails adjacent to the Don Edwards Wildlife Reserve, parks and bike-friendly paths.

“PCS will offer users a unique environment that incorporates state of the art product situated in a work-life environment. The project offers multiple outdoor amenities that will assist companies in recruiting and retaining the best talent,” said Timur Tecimer, OMP’s CEO. This is OMP’s third project in Fremont.

CBRE’s Rob Shannon, Chip Sutherland and Bob Ferraro are handling the leasing assignment for the project.

“The market is really hungry for this type of smart, integrated facility solution,” said Rob Shannon, Executive Vice President. “Silicon Valley is home to the most progressive and successful companies in the world, and they are looking for ways to make their employees’ workdays more convenient, healthier and more productive. Given its location, size and quality, PCS will deliver meaningful value in all of these domains.”

With the regional and national economy continuing to expand, the Silicon Valley industrial vacancy is at a historical low of two percent as of Q1 2018. The Fremont submarket in particular continues to see strong demand. Above average growth is projected for the region for the foreseeable future.





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