Newmark arranged the sale of the Altamont Shallow Bay Industrial Portfolio in Livermore on behalf of Principal Real Estate. The San Francisco Business Times reported that Overton Moore Properties acquired the property for $49.25 million, marking its second acquisition in Livermore.
A Newmark tea, of executive vice chairman and president, Western Region Capital Markets Steven Golubchik, vice chairman Edmund Najera, managing director Darren Hollak and associate director Brendan Raney represented the seller.
“As investors navigate tariff-related market dynamics and a constrained development pipeline, shallow-bay assets have been the square focus of institutional industrial capital,” said Golubchik. “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.”
Located at 7650 and 7888 Marathon Dr., the 100% leased portfolio comprises two buildings totaling 241,213 square feet.
Photo credit: Todd Quam, Digital Sky Aerial Imaging
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