Infill, multi-tenant industrial is a primary focus of the Seagate Value-Add Fund 2021, and in Q3 2021, Seagate VAF2021 added the Warm Springs Industrial Park (WSIP) to its portfolio. A 142,000 sq. ft. two building light industrial park on 8.8 acres, WSIP is well suited for light assembly/manufacturing. The property divides into 8 tenant spaces each with heavy power and dock-high and/or drive-in loading. The location provides excellent access to Interstates 680 and 880 and proximity to Milpitas, San Jose, and the balance of Silicon Valley. The units benefit from extensive HVAC, 19’ clear height, dock and/or drive in loading and 3.3/1000 parking
At the time of its acquisition, WSIP was 75% leased to 5 tenants. Seagate was successful in leasing the two vacancies within 90 days of close. The property is now 100% leased.