JV Breaks Ground on CA Manufacturing Facility
- Jan 16, 2019
A joint venture between Overton Moore Properties and LaSalle Investment Management has broken ground on Morton Commerce Center, an advanced manufacturing development in Newark, Calif. After initially acquiring the 29-acre site from Morton Salt, back in December 2017, the property is now 37 percent preleased.
The facility will comprise four buildings totaling 605,000 square feet. Building four is completely preleased to a social media/networking company. The asset features 30- to 32-foot clear heights, additional power capacity, natural gas, ESFR fire suppression, large truck courts that can be converted into extra parking, and solar ready roof structures. The project is situated five minutes from Interstate 880 and CA Highway 84, the Dumbarton Bridge.
Cushman & Wakefield’s Executive Managing Director John McManus and Senior Director Victor DeBoer are representing OMP on the development.
“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,” McManus said in a prepared statement.
Morton Commerce Center is OMP’s third development project in the San Francisco East Bay. Other projects include The Crossings @ 880 in Fremont, Calif., OMP Eureka Landing in Newark, Calif., Pacific Commons South in Fremont, Calif., and OMP Gateway Marina in San Leandro, Calif., in which, last January, the firm signed Torani Inc. to occupy 327,000 square feet, a lease valued at more than $65 million.
Rendering courtesy of Overton Moore Properties