Montevina Commences Sales in Phase 1 of Complex
The first building sale was completed at Montevina in Pleasanton. Darim Vision Corporation purchased 3110 Constitution Drive. Montevina is a 250,000 square foot master-planned class A office and R&D complex developed to provide small business owners the opportunity to purchase free-standing, “small-format” buildings within a professional business park. Phase I of the project was completed in December of 2008 and consists of 16 separate free-standing buildings.
Montevina – Phase I is estimated to be valued at more than $40 million upon completion of interior improvements. The complex will be built out in at least two phases, ultimately encompassing 250,000 square feet of class A office and R&D space and may also support commercial utilization on site. ExTerra expects to commence construction for the second phase of the project once Phase I is substantially sold out. The project’s first phase consists of 102,000-square-feet of space located within 16 separate free-standing class A buildings ranging in size from 3,600 square feet to 13,200 square feet, all within a dramatic hillside vineyard setting boasting commanding views of the surrounding vineyards and entire Tri-Valley area.
ExTerra Realty Partners is an internally-owned and operated real estate company that specializes in acquiring and developing industrial and office projects, as well as raw land subdivisions. Formed in January 2005 and based in Livermore, CA, the company has recently completed several quality projects in California, North Carolina, Tennessee and Texas. For 25 years, company partners have been successfully delivering institutional-quality industrial and office facilities for a wide variety of large corporate users and small business owners alike.
Darim Vision paid $337/square foot for its 3,600 square foot free-standing Tuscan-style office building at Montevina. Founded in 1991, Darim Vision is committed to developing video compression and transmission technologies to make video communication more accessible. The company's sole focus has been in delivering tools and services that enhance the way people communicate in various market segments. Darim Vision is relocating its U.S.-based headquarters to Montevina and will join at least two other owner-users, with whom ExTerra is presently in escrow.
Montevina represents a collection of small, highly amenitized professional office and R&D buildings situated along a gently sloping hillside setting in western Livermore. The site itself was instrumental in delivering a strong architectural presence and sense of cohesive workplace environment, all within a natural hillside back-drop that borders permanent open space and hillside vineyards to the north, and established business park and commercial uses elsewhere.
“We are excited to land Darim, a worldwide leader in video communication, as the first owner-user at Montevina,” states Mike Parker, managing Partner of ExTerra Realty Partners. “Darim is among a growing volume of sophisticated small business owners in the Tri-Valley looking to take advantage of interest rates at 10-year lows, control over and flexibility within their workspace environment, and, certainly, the generally depressed market conditions. The Tri-Valley has become a hot-bed for small business proliferation by virtue of proximity to an outstanding labor pool as well as the world-class corporate and research facilities here.”
Montevina is purposefully sustainable in design, construction materials and operations, which has established a solid baseline for Montevina owner-users interested in seeking LEED certification through the Green Building Rating System of the United States Green Building Council. Montevina is equipped with advanced technology infrastructure such as multiple points of entry for fiber, cable and wired communication technologies.
Architects Ware Malcomb, with its Northern California headquarters in San Ramon, Calif., designed this innovative project. Director, Commercial Architecture Jim Terry shares “The guiding principles in the overall design of Montevina are to establish a timeless, high-quality and professional environment through the use of design techniques and materials that collectively deliver a workplace that blends appropriately with the natural open space and vineyards to the north, and to do so in a manner that effectively eliminates the distinction between the indoor and outdoor environments. We spent countless hours with ExTerra, City planning staff and interested parties from the community at the design development stage to arrive at consensus for a truly unique and compelling workplace alternative for the small business owner. The building and site designs are Tuscan in style with emphases on organic color palettes and extensive outdoor spaces for gathering, recreating and simply taking in the commanding views of the Tri-Valley Wine Country landscapes.”
Providing immediate access to I-580 and State Highway 84, Montevina is well positioned to provide efficient transportation throughout the Tri-Valley and to points beyond in Silicon Valley, Central Valley and greater San Francisco Bay Area locations. BART mass transit stations are located just 5 miles to the west along I-580, and a future station is planned a few blocks east of Montevina at the new I-580/Hwy 84 interchange scheduled to break ground later this year.
More information concerning Montevina offerings can be found at www.montevinainfo.com or by contacting any of the Pleasanton-based C&C marketing representatives.