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Tri-Valley Industrial Market Heats up as Supply Chains Shift
Scarcity of Class A industrial space in Bay Area pushes users to look east
Current industrial vacancy in the East Bay is less than 4.2 percent, a level which provides little flexibility for movement for most tenants. This scarcity is forcing more users, especially regional distributors, manufacturers, and ecommerce companies to rethink their supply chain strategies by looking to land space along the I-580 corridor, East of the I-880 corridor which makes up the most prominent core industrial market servicing the Bay Area towards the Livermore and the Central Valley.
The first obvious stop is Livermore, which sits less than 35 miles east of the Port of Oakland and places industrial users 20 to 40 miles closer to the Bay Area than Central Valley locations such as Tracy, Lathrop and Stockton, while still being able to draw on labor from both San Joaquin and Alameda Counties.
"Livermore provides a vastly unique demographic for corporate users looking to tap into both skilled engineering and logistics labor. Sitting just 41 miles from Silicon Valley, and within 50 miles of the region's three major airports, Livermore is a great alternative for tenants looking to draw on lower cost alternative solutions coinciding with closer proximity to a workforce population from which a vast majority of employees commute to other regions," said Jason Ovadia, Managing Director, JLL.
Extremely well-located and recently-completed industrial properties such as Crow Holdings' Industrial Park 580, which sits just off I-580 at 6755 Brisa Street in Livermore, are at the sweet spot for companies looking for immediate occupancy in a new Class A industrial building.
The 128,622 square foot Class A industrial building has just been completed and is suitable for warehouse-distribution or light manufacturing use. Built to CalGreen standards, the building has 32 foot clear height ceilings, ESFR, sprinklers, ample power and 18-dock high and two grade-level loading doors. There are 101 parking spaces and a 135-foot truck court. Crow Holdings Industrial is underway on a speculative office package that will further position the building as an immediate solution towards occupancy in a very low inventory market climate in Livermore.
Jason Ovadia, Greg Matter, Patrick Metzger and David Sesi of JLL are handling leasing for Crow Holdings Industrial at Industrial Park 580.
JLL is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities.JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 86,000 as of June 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.