OAKLAND, CA - December 16, 2015
– Colliers International announced today three significant industrial sale transactions in Hayward, CA. In the first transaction, BALCO Properties (www.balcoproperties.com
) acquired ±9.06 acres of land located at 21201 Cabot Boulevard in an off-market transaction from Mobile Investors I Limited Partnership.
The site is fully leased long term to Modular Space Corporation, dba ModSpace, the largest U.S. owned provider of temporary and permanent modular buildings. ModSpace has over 80 locations nationwide, and use the Cabot Blvd. facility as their main storage and distribution site for the greater San Francisco Bay Area.
In addition to the land on Cabot Boulevard in Hayward, BALCO Properties acquired ±141,974 square feet of warehouse/distribution space located at 3650-3864 Enterprise Avenue. The seller was Parker One, LLC & SB Hayward, LLC. The multi-tenant project is 100% leased.
These purchases add to BALCO's growing real estate portfolio. They currently own over 60 properties throughout California, the majority of which are located in the Bay Area/Northern California.
Greig Lagomarsino, SIOR
, Executive Vice President, and Nick Ousman, Vice President, of Colliers International's Oakland office handled the transactions.
Lastly, SP Acquisition, LLC (dba Shea Properties - www.sheaproperties.com
) acquired ±14.20 acres of developable land from Eden Shores Associates I, LLC.
Shea Center Hayward (http://sheaproperties.com/industrial/detail/20/shea-center-hayward
) is a master-planned light industrial business park comprised of 4 state-of-the-art buildings ranging from ±32,000 square feet to ±115,000 square feet with up to ±274,998 square feet available in total, including mezzanine.
The planned buildings all include ESFR fire suppression systems, 26'-32' ceiling heights, 800-2,000 amps of power, dock-high and grade-level loading capabilities and 198' truck courts with 60' dock aprons. Shea Center Hayward is located adjacent to Costco and is in close proximity to the Union Landing retail center. Colliers International is the exclusive listing broker for this project.
"There is a limited amount of land remaining to construct Class A industrial projects in infill locations such as Shea Center Hayward. We are seeing demand for land increase and this is a pattern we expect to continue well into next year," says Greig Lagomarsino who represented both the Buyer and Seller in this transaction along with Mark Maguire
and Kevin Hatcher
, both Senior Vice Presidents of Colliers International's Oakland office.
About Colliers International Group Inc.About Colliers International Group Inc.
(NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries
. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals'
Global Outsourcing 100 for 10 consecutive years, more than any other real estate services firm.