LIVERMORE — A giant chunk of land in Livermore has been purchased in a $40 million-plus deal that might deliver an unlimited tech, manufacturing and industrial advanced to the East Bay metropolis.
Overton Moore Properties, performing via an affiliate, has purchased 41 acres of land in Livermore, in response to paperwork filed on Sept. 17 with the Alameda County Recorder’s Workplace.
The true property agency paid $41 million for the positioning, the nation data present.
Pleasanton Gravel Co., by way of an affiliate, bought the empty land to Overton Moore, in response to the Alameda County public submitting.
Overton Moore purchased the land via an all-cash deal, county data present. Colliers business actual property brokers Michael Lloyd, John Steinbuch, Greig Lagomarsino and Nick Ousman are looking for tenants for the property. Colliers additionally dealt with the property buy.
OMP Oaks Enterprise Park, as Overton Moore calls the advanced, totals 760,300 sq. toes. The anticipated makes use of will probably be superior manufacturing, tech and industrial.
Overton Moore hopes to start development of the two-building advanced within the subsequent few weeks, the corporate mentioned.
Fremont-based Lam Analysis, a significant semiconductor gear producer that is likely one of the stalwarts of the tech business, has leased roughly 60% of the mission even earlier than it’s constructed, in response to Overton Moore. Newmark business actual property dealer Chris Shaffer represented Lam in its lease deal.
Superior manufacturing and industrial buildings are deemed to be a business actual property product sort that’s extra in demand in contrast with a typical workplace constructing or resort, whose values have plummeted lately, each within the Bay Space and nationwide.
“OMP Oaks Enterprise Park would be the solely new development of superior manufacturing/warehouse buildings that will probably be delivered in Livermore in 2025,” mentioned Lloyd, a Colliers government vp. “It can fill a much-needed demand for this product sort.”
