Comcast Business has announced an expansion of its multi-gigabit Ethernet service to business parks in Pleasanton, Hayward and Fremont.
The high-speed fiber-based network build-outs together total close to $2 million in investment by Comcast in the East Bay, making available Internet speeds to the more than 1,500 businesses in the region.
The three business parks serve a variety of industries, ranging from manufacturing to biotech to education to consumer products and services - businesses with ever-increasing data needs.
Pleasanton Valley Business Park, which spans 60 acres and boasts more than 300 tenants, was built as a manufacturing park 40 years ago, but now serves tenants such as Allied Ventures, Mazda Motor of America, Nichotech and Quest Consulting, among many others.
Companies such as Ceva Logistics and Impax Laboratories are among the more than 150 businesses currently leasing space at the Hayward business park on Huntwood Avenue in Hayward.
Fremont's Bayside Business Park boasts of over 1 million square feet and serves as home to more than 400 companies, such as BASF Corporation, Mentor Graphics, Volterra Semiconductor Corporation. Many of the buildings in the Business Park are owned and operated by ProLogis.
"Today's business environment requires high speed internet as well as voice and video," said Stephen Schorr, Senior Property Manager at ProLogis.
As the price of commercial real estate in San Francisco and Silicon Valley continues to skyrocket, more businesses requiring high volumes of data and sophisticated technology services are relocating to the East Bay.
A recent real estate study by Cassidy Turley, a leading commercial real estate services provider, reported that commercial real estate asking prices in the San Francisco market have jumped 80% over the last four years and continue to grow.
It has been estimated that office tenants can save 40% by relocating from San Francisco to the East Bay and 18% by relocating from the South Bay, according to a report by the East Bay Economic Development Alliance and Beacon Economics.
"Recognizing the important role the East Bay plays in the Bay Area economy, a role that will grow exponentially in the coming years, we have made the conscious decision to invest in these corridors," said Ted Girdner, regional vice president of Comcast Business.
"By running our sophisticated network through these key growth areas, we ensure property managers can offer hundreds of tenants the diverse, high-capacity networks they need in order to thrive," he added.