Duke Realty filed plans for a 428,000-square-foot project to replace a shuttered glass factory in Oakland and create some breathing room for the supply-constrained East Bay industrial property market.
The proposal, submitted to the city’s planning department Nov. 9, calls for the demolition of almost 1.2 million square feet of buildings at 3600 Alameda Avenue, the site of the former Owens-Brockway Glass Container plant. In its place, Duke plans to build a 427,582-square-foot, single-story structure with mostly warehouse space and some offices, as well as 538 parking spaces.
The industrial REIT is also looking to combine 17 existing lots into two new lots and extend two roadways around the site to provide access, according to details of its proposal on the city of Oakland’s online permit center. SF YIMBY earlier reported details of Duke’s proposal, which is under city review.
Demand is strong in the Oakland industrial market, which CBRE defines as Oakland, Emeryville, Alameda, and eight other cities in the East Bay. Vacancy rates dropped to 2.6 percent from 2.9 percent in the third quarter from the three previous months, and almost three dozen companies are hunting for space in the East Bay, representing over 5.5 million square feet in volume compared with 1.5 million square feet under construction, according to CBRE third-quarter data.
If Oakland gives Duke the green light on its Alameda Avenue plans, it would mark a new chapter for the site of the Owens-Brockway plant, which closed a decade ago and has been on the market for sale since then, according to KTVU Fox 2.
CBRE is marketing the 29-acre collection of parcels for an undisclosed price. A firm representative said Tuesday that it didn’t have information to share on whether there’s an asking price or if a prospective buyer is under contract. A Duke representative didn’t follow up on a request for comment, while a representative for O-I Glass Inc., which owns Owens-Brockway, didn’t respond to a request for comment.
[SF YIMBY] — Matthew Niksa