By Kate Snyder
A project that would bring approximately 126,700 square feet of industrial warehouse and office space to San Jose’s north end has been pre-leased by The Home Depot. The lease agreement for the site, which is located at 1953 Concourse Drive, was signed earlier this month, , sources familiar with the transaction told The Real Deal, which first reported on the story
Overton Moore Properties purchased the site in 2020 as part of a $13.5 million deal for North San Jose’s Concourse Tech Park, located at 1953-1965 Concourse Drive, according to The Registry’s previous reporting. The seller was Concourse Larimar LLC, affiliated with Tiffany Gin and Stanton Lowe of San Francisco. In total, the existing property was built in 1984 and is about 110,148 square feet and sits on more than six acres.
The project site is located on the northwest corner of Concourse Drive and Lundy Avenue. North San Jose is a neighborhood that is primarily known for being the home of the city’s many tech companies. There are some nearby attractions, such as the Sierra Vista Open Space Preserve and casinos such as Bay 101 and Casino M8trix.
Overton plans to demolish all the existing structures and construct an approximately 126,700 square foot industrial warehouse building, according to project plans filed with the city. The proposal includes a building with approximately 118,700 square feet of warehouse space and approximately 8,000 square feet on the west end for office space.
The building’s height would vary between approximately 36 feet up to possibly 43 feet and eight inches, depending on ground surface elevation adjacent to the building, according to project plans. The new parking area would include 79 parking spaces and 27 stalls for trailer parking. The project would include the removal of 20 trees and the planting of 78 new trees on site.
Founded in 1972, Overton Moore Properties is a commercial real estate company that provides services such as asset management, tenant relations, leasing and marketing, entitlement services and construction management, according to the firm’s website. The company’s services philosophy is “to enhance the value of all properties under management and to deliver more to clients than promised.”