Vaca Valley Business Park
Kearny purchased the remaining 208 acres in Vaca Valley from Chevron Land in 1996 as part of a $300 million portfolio acquisition. By entitling the land at Vaca Valley Business Park to provide ample services to users, Kearny added significant value to the conveniently located office and technology business park.
Situated on 416 acres in Vacaville, California at the intersection of the Interstate 80 and 505 freeways, Vaca Valley is the strategic mid-point between San Francisco and Sacramento. The project has two miles of I-80 freeway frontage and 1.5 miles of I-505 freeway frontage. Vaca Valley Business Park is home to such prestigious companies as Genentech and Kaiser Permanente because the area offers affordable, attractive housing, and proximity to major, international business centers and recreational areas. In addition, the business park is located in both an earthquake free and uninterrupted power grid zone. As a bonus, companies pay no business tax in the City of Vacaville.
Since acquisition Kearny has sold 34 acres and completed $4.0 million of required infrastructure improvements. Kearny has processed the entitlements for the 172 acre second phase and recorded the parcel map. To create efficient, useable lots, Kearny sub-divided the property into lot sizes ranging from 8 to 18 acres with the ability to further divide or expand.
Keary sold the remaining acreage in Vaca Valley Business Park to AG Spanos Companies in June 2004.