A sale transaction involving a land asset consisting of 41 acres located at State Route 84 & Stanley Boulevard in Livermore was completed. The sale price for the property amounted to $41,000,000, equating to a price per square foot of $54 for an overall square footage of 760,300. The property is set to be developed into the OMP Oaks Business Park, which will feature an advanced manufacturing and industrial complex.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $41,000,000
• Buyer: Overton Moore Properties
• Seller: Pleasanton Gravel Co.
• Brokers: Greig Lagomarsino, John Steinbuch, Michael Lloyd & Nick Ousman - Colliers
• Market: Livermore
• Acres: 41
• Square Footage: 760,300
• Price per Square Foot: $54
• Note: Lam Research has pre-leased 60% of the project, which is expected to begin construction soon and be completed by 2025.

The transaction involved key individuals and representatives, including the brokerage team from Colliers, which consisted of Greig Lagomarsino, John Steinbuch, Michael Lloyd, and Nick Ousman. Their role in the deal facilitated the transaction between Overton Moore Properties and Pleasanton Gravel Co.