Seagate was looking to expand its industrial portfolio, specifically in the Fremont market, and the Warm Spring Industrial Park opportunity fit with its diverse mix of tenants in a central location. Added the portfolio in 2021, this Class B flex R&D warehouse park offers two-buildings containing a total of 141,500 SF on two parcels located in close proximity to highways I-880 and I-680 and the new Warm Springs BART Station.
Each building is equipped with heavy power, up to 19’ clear height warehouse space, oversize drive-in loading, newly refurbished roof, 100% HVAC and 30% dedicated to office space which includes open bullpen, conference rooms, private offices along the window line, and lunch and break rooms.
At the time of its acquisition, the tenant portfolio was 75% leased to 5 tenants averaging approximately 20,000 SF each. In just three months Seagate successfully leased both vacant units for a 100% leased status by year-end.