Newark, CA (11/10/2016)
Marking the first automotive systems supplier to lease space along the Interstate 880's industrial corridor since Tesla Motors Inc.'s expansion announcement, SAS Automotive Systems (SAS) pre-leased the entire 142,188-square-foot OMP Eureka Landing. Construction of Silicon Valley's newest, high-image, advanced manufacturing industrial project will be complete in November, and SAS plans to move into its new facilities in January of 2017 upon completion of tenant improvements. Headquartered in Germany with U.S. offices in Michigan, OMP Eureka Landing represents SAS' first West Coast outpost where it will bring new advanced manufacturing jobs to the Bay Area.
"We couldn't be more proud to welcome a leading automotive systems supplier to our latest development," said Timur Tecimer, CEO of Overton Moore Properties. "OMP Eureka Landing features premium design and construction in a pivotal location to best accommodate and inspire innovators like SAS for the long-term."
Located at 39888 Eureka Drive in Newark, California, OMP Eureka Landing lies two blocks west of Interstate-880 and less than five miles from Tesla's Fremont plant. The property is within the 1.1 million-square-foot Stevenson Point Tech Park which is populated with cutting-edge high technology companies including Apple, Unigen Corporation, SMART Modular Technologies and Triple Ring Technologies, Inc.
"SAS represents the first firm from the core automotive area to establish a presence in the East Bay," said Steve Kapp, a Newmark Cornish & Carey executive managing director who marketed the property for lease together with Senior Managing Director Mike Spiro and Associate Director Curtis Stahle. "Tesla and other modern car makers are shifting the automotive landscape."
OMP Eureka Landing features 10,000 square feet of office space, 16 dock high doors, two oversized grade level doors, 32-foot clear height, ESFR sprinkler systems and 4,000 amps of 480-volt power, double that of most buildings on the market. The building is completely secure and well designed to ensure maximum privacy for single tenancy looking for an advanced manufacturing building. Sustainable landscaping and skylights arranged to allow installation of solar panels cap off the LEED-compliant project.
SAS was represented by Colliers International's Mark Triska and Sanjiv Chadha.
About Overton Moore Properties
Founded in 1972, Overton Moore Properties (OMP) is a full service commercial real estate firm that focuses on the development, investment, acquisition, management, financial reporting and financing of commercial properties in California, Arizona and Nevada. Ranked as one of the largest commercial developers in Los Angeles by the Los Angeles Business Journal, OMP is a privately held firm that acquires and develops through joint ventures or direct equity investments. OMP has been an active developer and investor in the Bay area since 2009. It also manages over 6 million square feet on behalf of institutional clients.
About Newmark Cornish & Carey
A dominant regional real estate force since 1935, Newmark Cornish & Carey has an expansive reach as part of Newmark Grubb Knight Frank, one of the world's leading commercial real estate advisory firms. Regionally, Newmark Cornish & Carey has more than 280 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.newmarkccarey.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world's leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF's 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. NGKF's full-service platform comprises BGC's real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.