Business

Hines Starts 635 KSF Silicon Valley Industrial Project

4 months ago

CBRE will market and lease the property. The post Hines Starts 635 KSF Silicon Valley Industrial Project appeared first on Commercial Property Executive.

Edenvale Industrial Park will include three Class A industrial facilities in the South San Jose area. Image courtesy of Hines

Hines Interests has started construction on Edenvale Industrial Park in San Jose, Calif. The three-building advanced manufacturing campus is set to encompass 635,833 square feet.

CBRE has been appointed as exclusive leasing and marketing agent. HPA Architecture provided the designs.

According to CBRE, this is currently the largest industrial development in Silicon Valley, set to come online in June 2025.

Edenvale Industrial Park is taking shape at 550 and 650 Piercy Road. Each building will include 36-foot clear heights, ESFR sprinkler systems, dock and grade loading configuration, 4,000 aps of power, LED warehouse lighting, office suites, vehicle parking and 130-foot truck courts. The developer is aiming to receive LEED Silver certification for Edenvale Industrial Park.

The 45-acre project is within the South San Jose submarket, just off State Highway 101 and 15 miles from San Jose Mineta International Airport, 27 miles from Fremont, Calif. and within 58 miles of San Francisco.

The CBRE team marketing and leasing the project includes Vice Chairman Chip Sutherland and Executive Vice President Brian Matteoni.

The need for large industrial space

Hines Interests argued that new Class A space larger than 50,000 square feet is needed in the region, driven by the ongoing growth of cloud computing, server, smart automobile solutions and AI companies.

Last month, CBRE Investment Management, in a joint venture with Trammell Crow Co., completed Cochrane Technology Center, in Morgan Hill, Calif. At that time, the 500,000-square-foot property was the largest speculative industrial campus available in the region.

According to CBRE research, supply for such properties is tight in Silicon Valley. As of the first quarter, there were 1.2 million square feet of industrial space under construction, amounting to only 1 percent of existing stock, the same source shows.

The post Hines Starts 635 KSF Silicon Valley Industrial Project appeared first on Commercial Property Executive.