Case Studies > Creekside Landing – I-880 at Dixon Landing, Fremont, CA


Creekside Landing consists of a 40.5 acre site within a larger parcel containing 160 acres of land. The site is located in the northwest quadrant of Interstate 880 and Dixon Landing Road in Fremont, CA, and benefits from excellent access and identity. As part of the entitlements, the City of Fremont requires the owner to complete the extension of Fremont Boulevard to Dixon Landing Road, and additional infrastructure to facilitate the site.

SITUATION
  • The property has been owned by the same family partnership since 1983.
  • The owner spent 25 years seeking to entitle the site for development, and overcame several obstacles, including treatment of an endangered species and wetlands mitigation.
  • In 2007, the owner entered into a joint-venture with a retail REIT seeking to re-entitle the site for the development of a 400,000 SF Power Center.
  • Ownership augmented its entitlements to include retail, as well as preserved entitlements for industrial and/or office/R&D.
  • While retail demand was strong and several national credit tenants committed to anchor the shopping center, the project's timing coincided with the overall downturn in the world economy - ultimately causing the capital partner to terminate the development.
  • While retail demand was strong and several national credit tenants committed to anchor the shopping center, the project's timing coincided with the overall downturn in the world economy - ultimately causing the capital partner to terminate the development.
  • Since 2009, the project has sat dormant due to the economic recession.

RESULTS

  • As the economy improved in early 2011, Orchard Partners met with ownership to discuss various development scenarios of the site, focusing on warehouse and retail use.
  • Orchard Partners completed a feasibility analysis of the site to accommodate large warehouse users.
  • Redesigned the site to include a logistics park containing three large warehouse buildings totaling 700,000 SF.
  • Designed the warehouse buildings to accommodate large logistics users seeking modern warehouse features, including:
    · 32 foot ceiling clear heights
    · Expansive truck courts
    · ESFR sprinkler systems
    · Extra yard areas for trailer storage
  • Orchard Partners helped ownership select a broker and run a disposition process of property resulting in its sale.

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