LOS ANGELES, Jan. 14, 2019 /PRNewswire/ -- Anticipating continued demand for brand-new industrial advanced manufacturing space and the long-term strengths of the San Francisco Bay Area Industrial market, Los Angeles-based Overton Moore Properties (OMP) and Cushman and Wakefield (C&W) is proud to announce the ground breaking of Morton Commerce Center, a four-building, 605,000 square foot advanced manufacturing development project in Newark, California.
In December of 2017, OMP purchased the 29 acre site from Morton Salt. The project is already 37% leased, with Building Four (225,679 SF) having been pre-leased to a leading social media/networking company. Morton Commerce Center has been designed with features to accommodate a wide variety of businesses. Project features include 30'-32' clear heights, ESFR fire suppression, additional power capacity, large truck courts that can be converted into extra parking for companies with heavy employee counts, natural gas, and solar ready roof structures. Located only five minutes from Interstate 880 and the Dumbarton Bridge (CA Hwy 84), Morton Commerce Center's strategic Newark location can attract users from the Peninsula, Silicon Valley, and the greater East Bay.
"Morton Commerce Center is a next generation manufacturing/industrial project that will stand out from the aging existing building stock with its employee friendly amenities, flexible configurations and modern architecture. The first lease at the project is a great example of how the project fits the market," said John McManus of Cushman & Wakefield.
McManus, Executive Managing Director and Victor DeBoer, Senior Director of Cushman and Wakefield, are representing OMP on the project. The speculative project is being developed in joint venture with LaSalle Investment Management.
Morton Commerce Center is OMP's third development project in the San Francisco East Bay, which makes the company one of the largest industrial developers in the 880 Corridor submarket since 2008, measured by square footage, number of buildings and total projects. Other projects include The Crossings @ 880 in Fremont, CA (100% leased), OMP Eureka Landing (100% leased), OMP Gateway Marina in San Leandro, CA (100% leased), and Pacific Commons South in Fremont, CA, which is currently under construction.
OMP is a privately held company specializing in real estate development, acquisition, master planning, marketing, asset management, property management, construction management, and financial reporting for 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 43 years. OMP has constructed and acquired more than 40 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 of space in the region.
CONTACT: Janine Walker
Overton Moore Properties
310-354-2465
jwalker@omprop.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/omp-breaks-ground-on-3rd-east-bay-project-in-newark-ca-300777221.html
SOURCE Overton Moore Properties
