Overton Moore Properties (OMP), a real estate firms focused on industrial, office and mixed-used projects, has acquired the 41-acre property in the Bay Area locality of Livermore, California.
The property will be the home of the OMP Oaks Business Park, a 760,250-square-foot two building advanced manufacturing/distribution site. Construction on the project will begin this month, and OMP also announced that the project is 60% pre-leased to Lam Research.
The financial aspects of the acquisition were not disclosed. Invesco Real Estate is OMP’s joint venture partner for this project.
“After working on the entitlements and approvals in excess of five years, we’re very excited to finally acquire the site, keep a great company within the City of Livermore and expand our presence in Northern California,” said Timur Tecimer, managing partner of OMP.
Photo: Artist’s rendering of the OMP Oaks Business Park
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