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1.3M SF Oaks Logistics Center Breaks Ground

Trammell Crow Co, MEPT, and its real estate adviser, Bentall Kennedy, broke ground yesterday on Oaks Logistics Center. The three Class-A industrial logistics buildings, totaling about 1.3M SF, will be constructed simultaneously and the project is scheduled for completion Q4 2015. Livermore mayor John Marchand and community development director Stephen Kiefer shoveled the first spoonfuls of dirt at the 201 Discovery Dr site. Demand in the market is gaining traction, as Colliers says industrial vacancy is down to 6.6% in late 2014, compared to 11.2% a year earlier. CBRE is handling leasing on the project.