Newmark Arranges Sale of 241,213-SF Industrial Portfolio in Livermore, CA

Newmark has arranged the sale of the Altamont Shallow Bay Industrial Portfolio in Livermore, California. Overton Moore Properties acquired the two-building, 241,213-square-foot portfolio from Principal Real Estate for an undisclosed price.

The transaction was arranged by Newmark Executive Vice Chairman and President, Western Region Capital Markets Steven Golubchik, Vice Chairman Edmund Najera, Managing Director Darren Hollak and Associate Director Brendan Raney, who represented the seller in the transaction.

Market Dynamics Drive Shallow-Bay Asset Demand

According to Golubchik, shallow-bay assets have become a focal point for institutional industrial capital as investors navigate current market conditions. "As investors navigate tariff-related market dynamics and a constrained development pipeline, shallow-bay assets have been the square focus of institutional industrial capital," Golubchik said. "Our marketing process of this portfolio yielded a deep buyer pool of qualified institutional investors, and we are pleased to deliver an exceptional outcome for both Principal Real Estate and Overton Moore Properties."

The Altamont Shallow Bay Industrial Portfolio is located at 7650 and 7888 Marathon Drive in Livermore. The property is 100% leased to 13 tenants spanning a wide range of industries and features above-market dock door counts, 26-foot clear heights and ample power. The portfolio's location within the heart of the East Bay provides access to 2.8 million people within Alameda and Contra Costa Counties, as well as convenient access to the 5-Freeway for distribution optionality.

Livermore Market Characteristics

Livermore, the largest city in the Tri-Valley with a population of approximately 90,000 people, combines small-town charm with modern amenities. The presence of the Lawrence Livermore National Laboratory and Sandia National Laboratory highlights Livermore's role as a technological hub, contributing to scientific advancements and employing a significant portion of the local workforce.

The Tri-Valley industrial market comprises 20.2 million square feet with a vacancy rate of 8.4%, according to Newmark Research. Over the past 10 years, Livermore has averaged 4.4% vacancy and currently has no square feet of new product under construction.

About the Parties

Newmark Group, Inc. is a commercial real estate services firm. Principal Real Estate was the seller in the transaction, while Overton Moore Properties was the buyer.

Sources

Newmark Press Release