Amazon Buys Undeveloped Acreage in Pleasanton for $75MM

Amazon, Pleasanton, Lionstone Investments, Longfellow Logistics, Prologis International Park of Commerce
Courtesy of Christian Wiediger.

By Meghan Hall

Amazon is making plans in the East Bay and has recently closed on a deal for several parcels of land in Eastern Pleasanton. In recent days, the e-commerce giant paid $75 million for undeveloped acreage, according to The Mercury News. The seller of the properties was Lionstone Investments, who had owned the land since 2012.

Much of the acreage is located off of Stanley Boulevard, Valley Avenue, El Charro and Stoneridge Drive. It is not exactly clear just how much land Amazon acquired from Lionstone, as public documents do not stipulate how parcels were divided and traded. It is estimated, however, that Amazon acquired nearly 304 acres based on a pre-existing East Pleasanton Specific Plan. Amazon’s plans for the properties are unclear.

Amazon’s East Bay presence has been growing substantially over the past several years. In the fall of 2019, Amazon leased the entire Longfellow Logistics Center in Livermore, which totals 600,000 square feet. In May of 2020, Amazon leased 707,000 square feet at the Bay Area Logistics Center in Richmond, and all of Black Creek Group’s Hayward Logistics Center, which totals 506,000 square feet. In September of 2020, the firm was also working to take 850,000 square feet at Prologis’ International Park of Commerce.

Amazon’s acquisition in Pleasanton comes after a recent company announcement stating its intention to hire 125,000 additional employees-in addition to 40,000 corporate and tech jobs–in the coming months. Since the beginning of the pandemic, Amazon has hired 450,000 people in the United States. Amazon delivery partners are also hiring and are expected to expand by employing an additional 50,000 by the end of the year.

With growing employment and consumer bases, Amazon’s needs for real estate have expanded. In 2021, Amazon opened more than 250 new fulfillment centers, sortation centers, regional air hubs and delivery stations in the U.S. In September alone, the company will open an additional 100 buildings. In a recent news release, Amazon stated that it believes such investments will continue to “unlock” opportunity in communities throughout the United States.

West Coast Commercial Real Estate News