Torrance-based real estate company Overton Moore Properties announced that it has expanded its portfolio with the acquisition of the Altamont Shallow Bay Industrial Portfolio in Livermore. The deal includes two multi-tenant industrial buildings and marks the firm’s third investment under its Core Plus strategy.
The site is located at 7650 and 7888 Marathon Drive in Livermore, an East Bay submarket known for limited industrial supply, steady tenant demand, and interest from long-term investors, the company said in a statement released on January 28.
At the time of acquisition, the property was fully leased to 13 tenants, with no single tenant accounting for more than 10% of the total space.
The company acquired the two-building Altamont Shallow Bay Industrial Portfolio for $49.25 million, according to the San Francisco Business Times.
The multi-tenant industrial property sits on approximately 12.8 acres and spans 245,472 square feet, featuring a shallow-bay design with 74 dock-high doors and 18 grade-level doors.
The buildings have clear heights of approximately 24 to 26 feet, allowing for efficient and flexible use. A diversified tenant base provides reliable in-place cash flow while offering near-term opportunities for rents to move closer to market levels.
This makes the property suitable for a range of occupiers, including warehouse users, logistics operators, and light manufacturing tenants.
Through the acquisition, Overton Moore Properties has expanded its presence in Northern California.
Overton Moore Properties described the acquisition as a strong fit within its Core Plus approach, citing the property’s location, functionality, and tenant diversity as key factors behind the decision.
Pete Cassiano, chief investment officer of Overton Moore Properties, said the Livermore portfolio adds a high-quality asset to the firm’s growing portfolio.
The Livermore deal follows two earlier Core Plus acquisitions completed by the company in the Inland Empire, marking its entry into Northern California.
Overton Moore Properties is a privately held real estate operator and developer focused on industrial assets across major U.S. markets. The firm’s operations include acquisitions, development, property management, and leasing.
The firm has two office locations across California in Southern and Northern California.
The firm has more than 52 years of experience and has constructed and acquired over 40 million square feet of industrial and mixed-use space across California, Arizona, Nevada, and Utah.
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