- Wednesday, May 22, 2019
- San Jose, California
Seefried Properties and Clarion Partners Launch New Warehouse Project in San Jose
Seefried Industrial Properties and Clarion Partners are pleased to announce their purchase of the 10.7-acre site at 970 McLaughlin Avenue, San Jose, where they plan to build a 223,827 square foot Class A logistics/advanced manufacturing facility. The project is scheduled for completion first-quarter 2020.
Seefried and Clarion purchased the property from Jennings Holdings LLC, a subsidiary of Danaher Corporation, on April 26, 2019.
Architectural firm HPA, Inc. will design the new best-in-class warehouse and advanced manufacturing structure. Among other features, the design will include a 32-foot height clearance, 4000 amps of power that will be expandable to meet tenant requirements, and an ESFR fire protection system.
"Location is a key advantage for the property. The site offers immediate freeway access to Highways 280, 680, and 101, and the San Jose International Airport is close by," said Ed Hofer, Executive Vice President of Colliers International, who handled the deal with colleague Emerson Hofer on behalf of Seefried. "The quality of the space in combination with the location will appeal to an array of occupiers--from food users to tech companies to last-mile e-commerce firms."
"An infill project of this scale is rare to find; we were very excited to seize the opportunity," said Seefried Industrial Properties Senior Vice President Robert Guerena. "The limited supply of Class A projects throughout Silicon Valley makes for a very compelling investment." Colliers puts the current vacancy rate for Silicon Valley warehouse product at 1.7%.