LIVERMORE, Calif., Sept. 17, 2024 /PRNewswire/ -- Overton Moore Properties ("OMP") announced that they have closed on 41 acres in Livermore, CA. The property was acquired from Pleasanton Gravel Company. OMP Oaks Business Park is a 760,250 Square foot two building advanced manufacturing/distribution project and will commence construction this month. OMP's joint venture partner for this project is Invesco Real Estate.
Colliers International's Michael Lloyd, John Steinbuch and Greig Lagomarsino handled the sale and will be the leasing brokers for the project including Nick Ousman. "After working on the entitlements and approvals in excess of five years, we're very excited to finally acquire the site, keep a great company within the City of Livermore and expand our presence in Northern California," noted Timur Tecimer, Managing Partner of OMP.
OMP also announced that the project is 60% pre-leased to Lam Research. Chris Shaffer of Newmark Knight Frank represented Lam research on the lease transaction. The remaining building representing 288,750 square feet will be available during the 3Q 2025. Building features include, 36' clear, cross dock building with 185' secured loading areas, excellent freeway access to I-580 and Highway 84 and zoned for warehouse and distribution use.
"OMP Oaks Business Park will be the only new construction of advanced manufacturing/warehouse buildings that will be delivered in Livermore in 2025 and will fill a much-needed demand for this product type", commented Michael Lloyd, Executive Vice President of Colliers International.
ABOUT OMPOverton Moore Properties (OMP) is a privately held company specializing in real estate development, acquisition, asset management, master planning, property management and construction management of industrial, office and mixed-used 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 52 years. OMP has constructed and acquired more than 40 million square feet of office, industrial and mixed-use space, California, Arizona, Nevada and Utah. The firm also owns and manages over 6 million square feet of space in the region. Please visit our website at www.omprop.com
PRESS CONTACT: Janine WalkerOverton Moore Properties(310) 354 – 2465[email protected]
SOURCE Overton Moore Properties (OMP)
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
440k+Newsrooms &Influencers
9k+Digital MediaOutlets
270k+JournalistsOpted In Originally published at https://www.prnewswire.com/news-releases/omp-announces-largest-land-acquisition-this-year-in-the-sf-bay-area-302249895.html Images courtesy of https://pixabay.com
