By Jon Peterson
Houston-based Transwestern Development Company is making plans to enter into the San Francisco Bay Area for the first time.
“We are now negotiating on the acquisition of two to four development sites in the region where we could be developing some assets in the future,” says Stephen Batcheller, a regional partner for the Logistics Group for Transwestern Development. The company at this time has no exposure in the Bay Area market as a developer.
Last month he joined the company to help facilitate its expansion on the West Coast, and he will be working out of the company’s regional office in Orange County. This location would also enable Batcheller and team to be more active in the markets in the San Francisco and Seattle regions, as well. The Southern California location makes sense for the company to start there, since Transwestern has developed more than 2.5 million square feet of space with most of this activity occurring in that part of the state.
Batcheller is no stranger of industrial development on the West Coast. Previously, he worked at Panattoni Development Company where he was a partner and was responsible for all aspects of the company’s office and industrial activities in the Inland Empire, Orange County and a portion of Los Angeles County.
Transwestern Development would like to find some development sites to acquire in either the East Bay region of the Bay Area or the Central Valley area. Most of the company’s future activities would be with development projects, although the company may consider on a limited basis the acquisition of properties that have a value-add component, as well.
Transwestern will be looking to getting involved in projects that are primarily warehouse/distribution properties. “We like the region in Northern California, [since] there is very strong demand for space from tenants, and the region has high barriers to entry for new projects,” said Batcheller.