Developer buys Dublin offices, land

All-cash deal for property along I-580 near BART

DUBLIN >> An older office building that sits on a big chunk of land in Dublin has been bought by a veteran real estate company with a penchant for redeveloping choice sites.

Overton Moore Properties has bought a large site in western Dublin that includes a half-century-old office building, according to documents filed on May 18 with the Alameda County Recorder's Office.

An affiliate of Overton

Moore paid $22 million for the Dublin property, the county documents show.

The seller was Hexcel Corp., a longtime manufacturer of hexagon-shaped composite materials that are used in an array of key industries, including the aerospace sector.

The purchase of the property at 11711 Dublin Blvd. was an all-cash deal, the county documents show.

Colliers, a commercial real estate firm, had been attempting to sell the property, according to a listing handled by Larry Easterly, a Colliers broker.

The building was constructed in 1968 and was a longtime site for Hexcel.

For decades, Hexcel was headquartered in Pleasanton

and maintained offices in the East Bay's TriValley region. In 1996, Hexcel moved its head offices to Connecticut.

Even after Hexcel's departure from the East Bay, the company continued to operate out of the Dublin office.

Overton Moore is one of California's most active real estate developers and owns a number of sites in the Bay Area, including properties in North San Jose and Fremont.

In Fremont, Overton Moore is leading the development of Pacific Commons South, a vast industrial and manufacturing hub that is slated to consist of 10 buildings totaling 1.72 million square feet.

In North San Jose, the development firm bought 6.5 acres on Concourse Drive. Overton Moore is developing an industrial complex totaling 126,700 square feet.

The Dublin site could be ripe for redevelopment since the land could accommodate a building or complex that would be much larger than the existing structure of 62,700 square feet. The property is next to Interstate 580 and is near a BART station.

A growing number of properties in the Bay Area have been purchased in recent months and years with an eye toward redeveloping the sites as modern tech, industrial, life sciences or research centers.