OMP Signs Torani to 327 KSF in Bay Area

The 15-year lease, valued at $65 million, will lead to the company’s relocation out of South San Francisco into a new manufacturing facility.

Marina Gateway Industrial Center
Marina Gateway Industrial Center

Torani Inc., a flavored syrup maker, has signed a 15-year lease with Overton Moore Properties (OMP) to occupy 327,000 square feet of space in San Leandro, Calif. The lease’s value is upwards of $65 million. Torani will move its headquarters and manufacturing facilities to the new building once it is complete, planned for August 2018. The property, Marina Gateway Industrial Center, is being developed by a joint venture of OMP and LaSalle Investment Management.

Located at 2000 Marina Blvd., the development site sits half a mile from the Nimitz Freeway, enabling convenient access throughout the wider Bay Area. Oakland’s airport is also four miles away. Construction of the facility began in the third quarter of 2017. The project features 32-foot clear heights, a gated 185-foot truck court, ESFR fire sprinklers and 60 trailer parking stalls. HPA provided architectural services for the project and KPRS Construction Services is serving as the general contractor. Wells Fargo provided $23.7 million in construction financing for the project.

“Our vision for the project was to find an advanced manufacturer or food manufacturing company that could take advantage of our pre-designed building features, excellent freeway access, close to a terrific labor pool and being in the business-friendly City of San Leandro. We are delighted to have Torani as a long-term customer,” said Timur Tecimer, CEO of OMP, in a prepared statement.

Kevin Hatcher of CBRE represented OMP in the transaction, with CBRE’s David Black and Bob Ferrano representing Torani. Last year, CBRE also executed leases for a 163,000-square foot recently completed industrial development less than one mile away.

Image courtesy of Overton Moore Properties