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August 9, 2020
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Black Creek Group Adding Eight Industrial Developments Totaling 3 msf to the Greater Bay Area


Denver-based Black Creek Group has eight industrial developments in the Greater Bay Area recently completed, currently underway or already entitled and scheduled to begin work by early next year.

Totaling approximately 3 mf, the projects are a combination of logistics, distribution and light industrial and include 618k sf of completed buildings, 1.3 msf currently under construction and 1.1 msf that is entitled and scheduled to commence in Q1 2019. These eight projects will nearly double the company’s Northern California holdings, which as of June 30, 2018 totals approximately 3.3 msf.

The Greaer Bay Area is one of the top five industrial markets in the US and has an annual growth rate of over 4% over the past three years, nearly double that of the US’s GDP growth rate, according to J.R. Wetzel, managing director for the Western Region of Black Creek Group.

Here are more details on Black Creek Group’s current projects in the Bay Area:

• Alvarado Commerce Center, San Leandro (approximately 155k sf): “In the heart of the East Bay market and close to a variety of major distribution channels such as the Oakland Airport, Port and Bay Bridge, this development offers tenants the ability to get products out quickly and efficiently,” said Gregg Boehm, senior vice president of acquisitions and development for Black Creek Group. Expected completion Q4 2019.

• Hayward Logistics Center, Hayward (approximately 507k sf): “At half a million square feet, this development will be one of the largest buildings in a market that is traditionally known as the distribution market of the East Bay/880 Corridor area,” said Boehm. “The state-of-the-art facility will offer attractive features to tenants that are looking to expand or consolidate its current operations into one facility.” Expected completion Q3 2019.

• Richmond Logistics Center, Richmond (approximately 188k sf): “This development offers an outstanding location, with easy access to the Bay Bridge and San Francisco as well as to Marin County and Napa Valley,” said Boehm. “With the ability to easily reach multiple locations, Richmond is an area that continues to emerge as a growth market and one that we will watch given the value we have already seen from the expanding development activity in the area.” Expected completion Q2 2019.

• Silicon Valley Industrial Center, San Jose (approximately 156k sf): “With excellent access to the 101 Fwy, the development has great flexibility to accommodate a variety of tenants, as it could easily be leased to a single tenant or divided into three units to serve the ever-expanding Silicon Valley market,” said Boehm. Completed Q3 2018.

• Tracy Distribution Centers III-VI, Tracy (four buildings ranging from approximately 383k sf to 611k sf): “With a lack of new product in the Greater Bay Area and vacancy at all-time lows, there is an increased demand for new industrial space and we are excited to add more than 2 msf of big box product to the area,” said Boehm. “Sitting along the I-5 Corridor, which runs from the Canadian to Mexican border, the developments will offer attractive options for companies that are serving not just the Bay area, but the entire West Coast.” Tracy Distribution Center III completed Q3 2018, Tracy Distribution Center IV expected completion Q2 2019, and both Tracy Distribution Center V and VI expected completion Q1 2020.

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