Hines Kicks Off Bay Area Project
This is the largest industrial development underway in Silicon Valley.
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.
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Designed to achieve a LEED Silver certification, Edenvale Industrial Park is taking shape at 550 and 650 Piercy Road. Each building is set to have 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 45-acre project is within the South San Jose submarket, just off State Highway 101 and 15 miles from San Jose Mineta International Airport. The location is also 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
Driven by the ongoing growth of cloud computing, server, smart automobile solutions and AI companies, demand for Class A space larger than 50,000 square feet is high in Silicon Valley. However, supply is tight, according to CBRE research. As of the first quarter of this year, there were 1.2 million square feet of industrial space under construction, amounting to only 1 percent of existing stock.
Last month, CBRE Investment Management, in a joint venture with Trammell Crow Co., completed Cochrane Technology Center in Morgan Hill, Calif. At the time, the 500,000-square-foot property was the largest speculative industrial campus available in the region.
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