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5/23/19
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Seefried Industrial Properties and Clarion Partners have acquired a 10.7-acre site in San Jose, on which plan to build a 223.8k sf, Class A logistics/advanced manufacturing facility. The project is scheduled for completion first-quarter 2020.
Architectural firm HPA Inc will design the new best-in-class warehouse and advanced manufacturing structure, located at 970 McLaughlin Ave. Among other features, the design will include a 32-foot height clearance, 4000 amps of power that will be expandable to meet tenant requirements, and an ESFR fire protection system.
Location is a key advantage for the property. The site offers immediate freeway access to Highways 280, 680, and 101, and the San Jose International Airport is close by.
The property was sold by Jennings Holdings LLC, a subsidiary of Danaher Corporation. Ed Hofer and Emerson Hofer with Colliers International represented Seefried in the transaction.
“The quality of the space in combination with the location will appeal to an array of occupiers -- from food users to tech companies to last-mile e-commerce firms,” noted Ed Hofer. According to data from Colliers, the current vacancy rate for Silicon Valley warehouse product at a minimal 1.7%.
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