Conor Commercial Real Estate, together with their partner, American Realty Advisors, is very pleased to announce that a full-building lease with one of the world’s largest supply chain management and package delivery companies has been completed at Pacific Commons Industrial Center in Fremont, California. The lease of the 814,901-square-foot facility marks the largest speculative industrial building transaction in San Francisco Bay Area history.
The lease term is for ten years and begins in January of 2020. The client will use the property as an e-commerce and logistics hub to serve Silicon Valley, taking advantage of the area’s prime location and skilled workforce.
“Pacific Commons was designed to offer many logistical advantages for its tenant,” commented John Dobrott, President — Industrial of Conor Commercial Real Estate. “So we are confident that it will be a great fit for our client and will have a positive impact on their supply chain operations in the Bay Area.”
Conor carefully selected the site for Pacific Commons Industrial Center for a number of reasons. Situated on a 41.75-acre lot at the southwest corner of Cushing Parkway and Nobel Drive, the development is 1.3 miles from I-880, 2.8 miles from I-680, six miles from Highway 84-Dumbarton Bridge and 6.3 miles from Highway 237. It is also within 30 miles of three international airports, 3.2 miles from the BART Warm Springs Fremont Station and less than an hour from three ports.
Its location within the City of Fremont also provides numerous advantages. Fremont is the fourth largest city in the Bay Area and was named the second best-run city in the United States, as well as one of the most culturally diverse cities in the Bay Area. The city also provides access to a workforce of nearly 125,000, 51% of who are college graduates. Additionally, the site is in close proximity to a vast number of restaurants, retail stores, services and entertainment venues.
“This lease, to a world class operator, culminates another successful collaboration between the Conor and ARA teams. We look forward to holding this investment in our portfolio long term,” added Scott Darling, President of American Realty Advisors.
The building itself was carefully constructed in order to offer optimal efficiency and conditions for the tenant, as well as to achieve LEED Silver Certification. The facility boasts of a 36′ clear height, 4,000 amps of power, ESFR sprinklers, 1,077 car parking stalls, expandable to 1,307, and 67 electric vehicle charging stations. For easy loading and unloading, the building incorporates 55′ x 50′-60′ column spacing, 60′ speed bays and 141 docks. Lastly, for optimal truck maneuverability, it offers a 60′ truck apron, a 185′ concrete truck staging area and 183 trailer parking stalls.
McShane Construction Company served as the general contractor for Pacific Commons Industrial Center. The architect of record is HPA, Inc.
The brokers representing Conor and ARA in the lease transaction are Rob Shannon, Chip Sutherland and Doug Norton with CBRE. The client was represented by Jeff Huberman and Craig Hagglund of Lee & Associates.