SAN JOSE, CA - April 30, 2018 - CBRE announced today that Pacific Commons Industrial Center, the largest distribution building in development across the San Francisco Bay Area, has officially broken ground. The 814,852-square-foot building is located at the southwest corner of Cushing Parkway and Bunche Drive. Conor Commercial Real Estate and American Realty Advisors ("ARA") are the owners and developers. CBRE's Rob Shannon, Chip Sutherland and Doug Norton are marketing the space for lease.
"Pacific Commons Industrial Center combines the efficiency of a new, large-scale, best-in-class building with the accessibility of an in-fill location perfectly situated to meet the e-commerce and industrial fulfillment needs of Northern California," said Rob Shannon, Executive Vice President, CBRE. "Nowhere else in the Bay Area can you find a single industrial building of this size under development, not to mention one that is steps away from a complete array of retail services. It's truly a one-of-a-kind opportunity for a company looking to truncate Bay Area delivery times while lowering transportation costs."
Slated for completion in Q2 2019, the nearly 815,000-square-foot logistics and fulfillment center will feature 36-foot clear heights, cross-dock configurations, an ESFR sprinkler system, 141 dock doors, 143 trailer parking stalls and flexible office space. The building is designed to achieve LEED® Silver certification and will offer 68 electric vehicle charging stations. The building is situated on approximately 41.75 acres and is just over a mile from Interstate 880, less than three miles from Interstate 680 and three miles from the Warm Springs BART station.
"We are excited to embark on yet another in-fill development within the East Bay submarket with valued partner, American Realty Advisors," remarked John Dobrott, President - Industrial, Conor Commercial Real Estate. "The scarcity of available Class A industrial product, coupled with the locational advantages offered by Pacific Commons Industrial Center will drive the success of this notable development."
Pacific Commons Industrial Center distinguishes itself further with its unique pedestrian-friendly environment. A multi-use trail will follow the south and west edges of the property, offering access to open space. The building is also within walking distance of Pacific Commons Shopping Center and its 75 stores, restaurants and entertainment venues.
"ARA is excited to break ground on Pacific Commons, as a 'Big Space for Big Solutions.' We see this asset serving as the premier, state-of-the-art logistic facility serving a growing demand for last mile distribution and ultimately delivering strong value to our investors," added Albert Pura, Senior Director, Investment Group at ARA. "We are proud to once again work with our trusted partner, Conor Commercial Real Estate and continue our proven track record of having successfully developed and sold two East-Bay industrial projects."
Pacific Commons Industrial Center is 14 miles from San Jose International Airport, 30 miles from the Port of Oakland and 46 miles from the city of San Francisco. Upon full buildout, the Pacific Commons Business Park will be home to more than 4.4 million square feet of industrial space, making it one of the largest industrial destinations in the region.
For leasing inquiries at Pacific Commons Industrial Center, contact Rob Shannon at +1 408 453 7486 or rob.shannon@cbre.com, or Chip Sutherland at +1 408 453 7410 or chip.sutherland@cbre.com, or Doug Norton at +1 510 874 1930 or doug.norton@cbre.com.
For more detailed information about Pacific Commons Industrial Center, visit the property's website at: properties.cbre.us/pacific-commons/
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About Conor Commercial Real Estate
Conor Commercial Real Estate is the integrated real estate development and investment arm of The McShane Companies headquartered in suburban Chicago, Illinois with regional offices located in Phoenix, Irvine, Dallas and Houston. The firm is active on a local, regional and national basis in the development of master-planned industrial and office parks, medical office developments, speculative industrial and office properties and build-to-suit projects for lease or purchase. For more information on Conor Commercial Real Estate, visit the firm's website at www.conorcommercial.com.
About American Realty Advisors
With more than $8.2 billion in assets under management, American Realty Advisors is a leading provider of commercial real estate investment management services. For over 29 years, ARA has managed capital for institutional investors utilizing core and value-added commingled funds and separate accounts. ARA acquires assets directly or provides equity, preferred equity, mezzanine debt, debt, and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties. More information regarding ARA can be found at www.aracapital.com.
More Info: https://properties.cbre.us/pacific-commons/
