Seagate Properties

A Real Property Investment & Operating Company

Warehouse / R&D

2080 Enterprise

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Seagate Properties added this Sacramento industrial asset to its portfolio in March 2023. Originally built in 1979, 2080 Enterprise Blvd was remodeled when Hunter Douglas Fabrication acquired it in 2011. Consisting of ~208,000 square feet on 12.55 acres, it has 28,000 sf dedicated for office use, 297 parking spaces, 22’-28’ clear height, 20 dock-high doors, an insulated deck, skylights, HVAC, and a desirable 55,000 sf excess yard situated in an Opportunity Zone in the highly desirable West Sacramento submarket in the Port Sacramento Industrial Park. 

Seagate plans to spend $4 to $6 million on additional property upgrades, including a new roof and dock equipment as well as new paint and lighting and addressing deferred maintenance which will provide an immediate value-add opportunity with the rising rents in W. Sacramento. The side yard on the property will be paved to create space for additional storage, giving it yet another attractive feature. While perfect for a single use tenant, alternative plans would be to split-up the building to house multiple tenants.

Warm Springs Industrial Park

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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.

700 Crocker

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Seagate added this 843,000+ sq. ft cross-deck warehouse project to its property management portfolio in December 2020. Solano County has quickly emerged as one of the most desired big-box industrial markets in the North Bay area and 700 Crocker is Northern California’s largest contiguous center with over 19 acres under one roof and its truck-pavement covers 75 acres.

While modern warehouses have 186 feet deep of paving for truck storage, this project has 300 feet! The warehouse also has a 30-foot clear height for vertical storage, a three-bay truck maintenance facility and a 30,000 sq. ft cross-dock sorting facility with 32 dock-high doors.

Located half-way between Sacramento and San Francisco on Interstate 80, 700 Crocker has access to the Central Valley via Interstate 505 and to the East Bay via interstates 80 and 680.

755 & 775 South Point

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Seagate added 755 and 775 Southpoint Blvd to its property management portfolio in 2019. These two free-standing industrial buildings were built in 1993 and provide excellent loading capabilities, clear height, and ample truck and car parking.

755 Southpoint consist of 88,466 sf of which approximately ±62,000 sf is fully temperature-controlled space, and 775 Southpoint consists of 95,578 sf. This project is centrally located in Southern Sonoma County with Highway 101 visibility, close to Redwood Business Park and downtown Petaluma with ample amenities.

South Sparks Industrial Park

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The South Sparks Industrial Park portfolio is a seven building, 585,000 SF property on four parcels located just south of Interstate 80 in Sparks Nevada at Kleppe Lane and Sparks Boulevard. The project is five miles from downtown Reno and five miles from the Reno-Tahoe International Airport.

At the time of its acquisition, the tenant portfolio was 100 percent leased to 24 tenants averaging approximately 24,000 SF each. Seagate was looking to expand its industrial portfolio, specifically in the greater Reno market, and this opportunity fit with its diverse mix of tenants in a central location.

This acquisition is Seagate Properties’ second recent investment in Northern Nevada — in late 2017, the company purchased Northtowne Summit, a 220-unit multi-family property, in Reno.

810-830 Meredith

910-990 Kleppe

980-988 Packer

1400-1440 Kleppe

1420-1470 Kleppe

1480-1498 Kleppe

Hellyer Oaks Technology Park

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Hellyer Oaks Technology Park offers a timeless architectural design with curved glass at corners. The project was completed in 1984 and is comprised of two office/R&D buildings containing approimately 350,000 sf. The site encompasses 20.95 acreas of land in Sourthern San Jose.

Parking is provided by perimeter surface lots with ~1,178 parking spaces. Conveniently located adjacent to US Highway 101 and Highway 85, providing easy access to North San Jose, the rest of Silicon Valley, the Peninsula and Morgan Hill. Seagate managed new lobby and entrance renovations bringing modern sophistication to the complex.

Interior and exterior renovations now complete and immediately available – design your own interior!

San Rafael Corporate Center

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San Rafael Corporate Center (SRCC) is a Class A, LEED Gold certified office campus situated on a landscaped 13 acre site in Central San Rafael, California. The property consists of four office buildings, two of which were initially developed in 2001. Seagate and a joint venture partner acquired two existing buildings and developed Phase Two of the property in 2010. Phase Two, consists of two, four-story Class A, LEED Gold certified office buildings, plus a four-story, 399 stall parking garage. The property has additional entitlements to develop approximately 89,000sf office building and one additional 615 stall parking structure. Seagate managed the following projects:

  • Developed 158,000 square feet of two new Class A office buildings and an associated 400 stall parking structure (Phase Two) on time and on budget – $62M
  • Established EB-LEED Gold status to the existing 152,000 square feet Class A office buildings (Phase One)
  • Managed and administered all entitlements with the City of San Rafael related to development and construction of the third and final phase of SRCC development for an 85,000 square feet Class A office building plus an approximately 600 stall parking structure.
  • Achieved highest Energy Star rating available

The property was sold in 2014 to BioMarin as their new corporate headquarters.

5729 Fontanoso

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This low-rise rectangular office project is a single-tenant building that was built in 1999 with 50% office and 50% manufacturing area. Its construction matches well with the future demand in this submarket, which is comprised predominitely of technology (with light manufacturing), defense or biotechnology. This type of asset is extrememly flexible and fits well with the tenants in this submarket.

2950 Zanker

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This R&D building, located on 4.3 acres of land in the heart of the Silicon Valley, was acquired through a 1031 tax deferred exchange. The facility was substantially renovated and improved at the tenant’s expense as a web-hosting facility.

A leader in the web-hosting industry, this facility represents the “backbone” of the tenant’s business. Seagate impemented a strategy of making a pre-emptive bid, below replacement cost, on this well located property before it was widely marketed.

2170 Hanson

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Seagate purchased this distribution building shortly after it was built in 2001. It is situated on 8.76 acres of land, and is conveniently located along Interstate 5 in suburban Sacramento.

This Central Valley location is very desireable to many regional and national logistics tenants and users. The distribution warehouse building is 207,700 square feet with the flexibility to demise the building for smaller users.

Northpoint Business Park

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This light industrial property is located on approximately 5.3 acres of land off of Interstate 880, near the Oakland airport. Eight separate tenants occupied 77% of the space at the time of acquisition. The 23% vacancy represented a significant component of the project’s upside potential, allowing Seagate to benefit from improving market conditions. Rapidly increasing office rents forced many service and sales oriented users to this more cost effective office-flex type space. Seagate leased all vacant space within six months of purchasing the property, thus exceeding the estimated returns to their client.

6955 Mowry

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Seagate negotiated the purchase of this manufacturing/distribution warehouse facility located on 8.2 acres of land.

The property was acquired at a substantial discount to market value due to the fact that it was encumbered by rents which were 30% below comparable market rental rates.

Seagate identified, negotiated, and structured the purchase of the property on behlaf of an investment client as their investment advisor.

5555 Sunol Blvd

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This warehouse and distribution center is located at the intersection of Interstates 680 and 580, a strategic location in a supply-constrained Tri-Valley submarket. The subject property is one of only a handful of warehouse buildings at the 580/680 location. The typical user is a local or national service-oriented, time-sensitive business that is willing to pay a premium to avoid the traffic delays of a Livermore or Central Valley location. Seagate and an institutional joint venture partner acquired the fully-leased building in addition to the adjacent developable land parcel. Upon expiration of the existing tenant’s lease several years later, the venture sold both the building and the land parcel to an owner-user.

2900 McArthur Dr

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Seagate constructed this high cube distrbution warehouse in anticipation of securing up to three tenants. The entitled land had been cquired as part of a larger industrial portfolio. Construction was completed on schedule and slightly under budget.

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United Grocer’s Warehouse – Tracy

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One of three distribution warehouses purchased and leased back to a regional wholesale and retail grocery chain with less than investment grade credit.

Substantial value enhancement was achieved by Seagate through credit augmentation and the subsequent resale of the wholesale division to a much higher credit parent company and by securing entitlements for an additional 500,000 square feet of buildings on the excess developable land.

Seagate subsequently developed, leased, and sold a 285,000 square foot warehouse on the surplus land.