CHERRY COMMERCE CENTER

PROJECT SUMMARY

DATE ACQUIRED

Dec. 2018

LOCATION

Newark, CA

SIZE

97,672 SF

TENANTS

4

YEAR BUILT

1997

MARKET
REGION

Located across the peninsula from San Francisco, the East Bay market is home to more than 2.7 million residents making it the most populated region in the bay area after growing 6.1% over the last 5 years. The market’s growth is illustrated by 12,785 construction permits pulled in 2017. Industrial product in the East Bay has seen increased demand over recent years driven off increased desire by corporations to consolidate their fragmented operations into corporate campuses and the peripheral users that follow. The market benefits from outstanding connectivity to the Bay Area’s workforce housing communities of Pleasanton and Livermore while providing convenient access to all the peninsula’s key commercial centers, including San Francisco and Silicon Valley. The East Bay has seen significant demand convergence pushing south as Oakland continues to gentrify and industrial product is converted to creative office, and north from Silicon Valley alongside a flight to affordability. The East Bay is directly in the path of growth generated by the land-locked peninsula and large investments are being made into transportation infrastructure which benefit the region’s access to the renowned commercial hubs in the area.  

 

LOCAL AREA

Fremont has continued to expand rapidly as its population has grown by over 10% since 2010. Today, Fremont is the 4th largest city in the bay area with a total population of over 230,000. Fremont is home to several large corporate tenants including Tesla, Western Digital, Seagate, Lam Research, Solar City, and Thermo Fischer. These corporate anchors are looking to capitalize on a skilled labor force where 49% of the population has a bachelor’s degree or higher with an average household income of $114,000. Year-to-date, The city currently has over 6,000 residential units under construction by prominent national developers such as Lennar and KB Homes as the submarket matured alongside the expansion of the BART infrastructure which provides convenient connection to the entire Bay Area. Fremont has seen explosive demand growth pushing north from Silicon Valley, which has caused the submarket to transition into a key advanced manufacturing hub, making industrial distribution product increasingly scarce. 

 
PROJECT PHOTOS

California // Colorado // Arizona // Washington // Nevada // Oregon

CONTACT US

Phone: 949.566.8800

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BKM CAPITAL PARTNERS

 

Headquartered in Newport Beach, California, BKM Capital Partners is a real estate fund manager specializing in the acquisition and improvement of value-add multi-tenant industrial properties in metro areas across the Western U.S. Combining a deep knowledge of this niche industrial product type with in-house capabilities including on-site property management, asset management, and leasing to reposition and institutionalize light industrial assets, the firm continues to build on its proven track record, generating strong results with high levels of transparency and engagement for investors. 

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BKM MANAGEMENT COMPANY

 

BKM Management Company manages a portfolio of 10.6 million square feet of multi-tenant industrial properties for BKM Capital Partner’s private and institutional investors. With a focus on “boots on the ground” execution at the property level, BKM has in-house capabilities for both property management and leasing. The teams at the property level are focused on ensuring the tenants thrive and that the properties managed in the most efficient way.

 

 

 

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