Square Mile Capital is continuing to expand its presence in the Bay Area, recently adding approximately 50.5 acres in Pleasanton to its sizable portfolio. According to reports from The Mercury News, the New York-based real estate investment company has purchased the property from Kiewit Infrastructure Co. – a unit of Nebraska-based construction firm Kiewit Corp. – for $65.9 million.
The more than 50-acre site is located at 3300 Busch Road and is currently developed with a 28,246 square-foot industrial building from the 1950s, according to public records. The remaining acreage remains undeveloped.
The property is located just off Valley Road, near several self-storage facilities, such as CubeSmart Self Storage and Public Storage. The property is also a short commute from major roads, with State Road 91 to the east of the property and Interstate 580 to the north of the property.
While no development plans for the site have been announced, the site is immediately adjacent to more than 58 acres of land that were purchased by Amazon in 2021. Located at 3000 Busch Road, Amazon purchased the site for $75 million with plans for a distribution center.
The 3300 Busch Road site could also potentially serve various uses. According to Square Mile Capital’s website, the company invests in various areas, including value add and development real estate.
“Our investment programs include first mortgages, mezzanine loans, preferred equity and joint venture equity. Square Mile’s culture emphasizes integrated teamwork across all of our activities,” the website states.