OAKLAND – A former glass factory site in Oakland heading for Wrecking Ball and redevelopment has been seized by a seasoned real estate company who has come up with a property overhaul.
Duke Realty plans a major property development in Oakland’s Fruitvale neighborhood through the demolition and replacement of the old Owens-Brockway glass factory, according to documents filed with planners.
In a move that further solidifies Duke Realty’s plans for the property, the Indiana-based developer has purchased the site, according to documents filed with the Alameda County clerk-recorder’s office.
Duke Realty Alameda Ave., the development company’s subsidiary, paid $ 34.4 million for the 23.9-acre site, documents filed Dec. 29 with the county show.
The developer closed the deal through an all-cash deal, according to property records.
Owens-Brockway Glass Container sold the property, located at 3600 Alameda Ave. in Oakland, according to public documents.
âThe proposed project is an opportunity to construct a premier modern industrial building representing a significant investment in East Oakland,â Duke Realty said in documents he filed with the city’s planning department.
The building would total 426,000 square feet and include 30,000 square feet of office space. The office would be located at the corners of the building, specify the town planning documents.
âThe project will generate benefits for the local community and is a proactive response to current economic and market demands,â Duke Realty said in the city brief.
The redevelopment of the property “will provide better public access to the nearby estuary shore,” the planning documents say.
Duke Realty also proposed the preservation of half an acre of land for future retailing to allow for “the potential development of additional regional business uses” that would strengthen Oakland’s retail strategy to l city-wide, according to the company’s record.
It is very interesting to know which company (s) could operate in the new industrial building.
In an article posted on its website, Duke Realty lists several companies as tenants of its most modern warehouse projects: Amazon, Weber-Stephen, Carter’s and Dick’s.
James Connor, CEO of Duke Realty, repeatedly mentioned the developer’s ties to Amazon during a conference call with analysts in October to discuss the company’s third quarter financial results.
Amazon is a “very good partner for us,” Connor told analysts.
The nature of the glass container factory as a filler property in Oakland matches how Duke Realty describes its current efforts and rental business with Amazon.
The proposed development at the glass container site at the corner of Alameda Avenue and Fruitvale Avenue would use an array of design features to create an eye-catching building.
“By providing a high quality industrial building, the project aims to enhance the characteristics of the existing area with the architecture, landscaping and site planning,” Duke Realty said in the planning documents.
The creation of the new industrial, warehouse and office building is expected to create many jobs, which would be a welcome contrast to the current state of the long-shuttered complex.
âThe main objective of the project is to create a thriving employment center,â said Duke Realty.