Oakland port approves AMB intermodal development talks
Port of Oakland commissioners, as expected, on Tuesday approved a measure authorizing staff to enter into an exclusive six-month negotiating period with AMB Property for an option master lease agreement to develop and operate an intermodal terminal, spokeswoman Marilyn Sandifur confirmed.
The freight rail facility sits on a part of the former Oakland Army Base property and is adjacent to the Outer Harbor Terminal that Ports America will operate beginning in 2010 under a new 50-year concession agreement.
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Assuming negotiations are successful, the port commission will vote in February to allow AMB, a large warehouse and logistics park developer based in San Francisco, to proceed with a three-year engineering and permitting phase with an option to enter into a full lease at the end of that period.
AMB won the right of first negotiation over CenterPoint Properties and Ports America.
The Oakland City Council is scheduled to vote next week on a similar authorization for AMB to proceed with developing a large logistics park on another piece of the Army Base next to the intermodal terminal parcel. ' Eric Kulisch