(EDITOR’S NOTE: According to public documents, the site is owned by GH Pacific Investment Holdings, which is associated with Jessica and Yang Zhang. The entity purchased the site in June of 2017 for 108,750,000, according to public documents, and had submitted a pre-application to the City of Dublin in March of 2018 for a mixed-use development comprised of up to 2,391,668 square feet of retail/commercial and office uses and up to 338 housing units.)
A rare opportunity to develop ±185 acres in the fastest growing city in California is just hitting the market. The Lockehouse Investment Sales Team (LIST) of Lockehouse Retail Group, Inc. exclusively represents the ownership and recently announced that they are actively seeking developers and joint venture partners.
The property is 185 acres of land located in Dublin, California adjacent to Interstate 580 with 4,300 linear feet of visibility, 215,000 vehicles per day and direct access from the Fallon Rd. exit. “With only a handful of opportunities in the entire Bay Area over 50 acres available, let alone with direct freeway access and visibility, having 185 acres is truly one of a kind,” commented LIST managing director, David Kram. The property offers the only corner of the interchange that remains undeveloped and is primed for a variety of uses. Moreover, the property is at the same exit as the 500,000 square foot San Francisco Premium Outlets with over 7 million shoppers annually, a CarMax, and Fallon Gateway, a Target, and Lucky-anchored power center. The property is in close proximity to Kaiser Permanente and thousands of new homes. Dublin is the fastest growing city in California and the 11th in the country.
The ownership is open to explore the sale of the property, a joint venture, or hiring a master developer. The land is in a Planned Development area with various portions allocated for General Commercial, Campus Office, and Medium High Density Residential. The city has also expressed interest in seeing a large-scale industrial development, corporate campus, retail, hotels, assisted living and memory care, and up to 338 residential units. Lockehouse partner Kurt Grundman shared, “the City of Dublin is supportive of bringing to fruition the Eastern Dublin specific plan and creating synergy with the city. They’ve been very helpful, and we are excited to work together on solutions that enhance the area.” Aaron Dan, Lockehouse managing director and partner stated, “We’ve had tenant interest for a while now here, so it will be great to develop the property.”
Lockehouse Retail Group, Inc. is the largest full-service, retail-focused brokerage firm in Northern California representing over 200 active tenants, developers, and landlords in the region and is a Chainlinks’ Broker Affiliate with 1,000 brokers in the top North American markets.