May 4, 2016
For additional insight on movement in the Bay Area, attend Connect San Francisco on May 12 at The Hibernia Bank.
With production at its Fremont plant taking over with the announcement of Tesla’s “for the masses” Model 3, Musk’s electric car company has reportedly leased north of one million square feet in Livermore, CA at the Oaks Logistics Center.
Trammell Crow and Bentall Kennedy developed the site. Sources also say that the company could potentially acquire an additional 30,000 square-feet on top of its new leased space, which is located 20 miles away from its Fremont factory.
After years of nearly no industrial supply being built in the Bay Area, this deal signals bullish demand. Furthermore, it calls to attention the nearly half a million pre-ordered Model 3s (priced at $35,000) slated for a rollout at the end of next year.