Panattoni Announces Industrial Park in Fairfield is Now Under Construction
Friday, April 29th 2016
FAIRFIELD, CA – Gateway80 will deliver one million square feet of new supply by end of year
Supply constrained industrial markets in the North and upper East Bay will see a break this fall with the anticipated completion of a 1,039,000-square-foot spec industrial park now under construction by Panattoni Development Company on a 52.4-acre site just off I-80 in Fairfield.
Vacancy rates have been on the decline for industrial product in the North Bay for more than 12 months and with demand continuing to rise from a broad array of distribution and manufacturing companies in the Bay Area, Sacramento and the Wine Country, the Northern California office of the Newport Beach, Ca -based developer moved to break ground on Gateway80 Business Park in the last 30 days.
Matt Bracco, Glen Dowling and Chris Neeb of JLL are handling leasing inquiries.
Gateway80 Business Park features three buildings and is ideally situated midway between San Francisco and Sacramento and just 12 miles from the Napa Valley wine region. The ports of Benicia, Oakland, Stockton and three international airports – Oakland, Sacramento and San Francisco – sit within a 60-mile radius.
The City of Fairfield boasts two state-of-the-art water and sewer treatment plants, which means Gateway80 will enjoy unparalleled access to abundant water and sewer, a rarity in the Bay Area.
“We’re delighted to break ground on this important North Bay Area industrial hub, a market which is in desperate need of efficient, modern industrial buildings, such as the ones we will deliver here in Fairfield,” said Tim Schaedler, the Northern California Partner at Panattoni Development.
The park features two 430,500-square-foot buildings and a 178,000-square-foot building, all designed and built to LEED standards. The buildings will feature 32 to 36-foot clear heights and 54 to 55-foot column spacing. The larger buildings will offer 84 dock high loading positions and the smaller building will offer 25 dock high loading positions.
“With Gateway80, Panattoni is providing the highest quality industrial distribution project which will appeal to a wide range of manufacturing, distribution and other industrial users,” said Matt Bracco, managing director, JLL. “This strategic location on I-80 is exceptional and provides users quick and easy access to the entire Bay Area as well as the Central Valley, wine country, Sacramento, Port of Oakland and far beyond,” he added.
The property will have 202 trailer parking spaces as well as 533 spaces for cars. Each building will offer 2,000 amp power supply, skylights and ESFR fire suppression systems throughout.
The entire project is expected to be completed and available for tenancy by the end of the year.
Founded in 1986 by Carl Panattoni, Panattoni Development Company, Inc. (“PDC”) along with its European and Canadian affiliates (collectively “Panattoni”) is one of the largest privately held, full-service real estate development companies in the world. Panattoni operates from 24 offices in the United States, Canada and Europe. Since inception, Panattoni has developed more than 240 million square feet of space including more than 80 million square feet of build-to-suit projects. Panattoni’s US operations are headquartered in Newport Beach, CA and operate from 14 offices in the United States covering all major industrial hubs. Highly experienced local partners operate in each of their markets focusing on project sourcing and execution. In the past 24 months Panattoni has developed $2.35 billion of new commercial projects.
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 230 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $56.4 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.