Venture Delivers Three New, Class A Speculative Industrial Buildings Totaling 563,000 Square Feet
Trammell Crow Company (TCC), in partnership with Principal Real Estate Investors, has completed construction on MidPoint@237, a 3-building, 563,000-square-foot Class A advanced manufacturing project located at North 1st Street and Nortech Parkway at the top of Silicon Valley’s Golden Triangle.
“Our team is excited to deliver a state-of-the-art project with scale to the core Bay Area market,” said Will Parker, Principal with TCC’s Northern California Business Unit. “We believe it is an opportunity for increased efficiencies for tenant occupiers, accommodating net growth or consolidation of existing positions.”
The new state-of-the-art advanced manufacturing project is visible to Highway 237 and minutes to both Moffett Park and Interstate 880. This central location facilitates easy access both to the San Francisco Peninsula and to the 880 Corridor leading to the Port of Oakland. The project has prominent entry features, interiors to suit, 28-foot clear heights, significant power, ESFR sprinkler systems and is designed to achieve LEED® Silver certification.
The project is marketed by Rob Shannon (San Jose) and Chip Sutherland (San Jose) of CBRE. The project architect is ARC TEC Inc. and the general contractor is Lusardi Construction Company.
About Principal Real Estate Investors
Principal Real Estate Investors manages or sub-advises $72.2 billion in commercial real estate assets*. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
*As of September 30, 2016.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of September 30, 2016, TCC had $7.1 billion of projects in process and $3.7 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). For more information visit www.TrammellCrow.com.