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Colliers Completes $9M Sale of San Leandro Industrial Property

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OAKLAND, CA (May 6, 2021) – Leading real estate professional services and investment management company Colliers is pleased to announce the successful sale of 14664-14680 Washington Avenue in San Leandro. Colliers Executive Vice President Mark Maguire, Senior Vice President Justin Smutko and Vice President Nick Mascheroni represented the seller, Lighthouse for the Blind & Visually Impaired, to secure the buyer who purchased the approximately 44,139 square-foot multi-tenant industrial and retail building which sits atop 2.72 acres for $9,000,000.00.

“We were thrilled to have the opportunity to work on behalf of Lighthouse for the Blind & Visually Impaired, in the disposition of this asset as they relocated operations to Alameda, CA,” said Justin Smutko,

Smutko added, “The successful transaction of this property clearly reflects the continued user and investor demand along the I-880 corridor for well-located freestanding industrial buildings with an excess land component.”

The property offers a multi-tenant configuration with units of varying sizes that support retail and industrial uses. Approximately +10,000 square feet space industrial space and nearly +6,000 square foot retail space were leased at the time of the sale, and the buyer plans to occupy the balance of the property.

The building is fully sprinklered with +16 foot minimum clear height throughout the warehouse area, multi-tenant configuration, additional paved and secured land, and dock and grade level loading. The underlying Community Commercial zoning allows for various types of future retail development. It is conveniently located in the Central East Bay with excellent access to I-880, I-580 and Highway 238.

About Colliers International
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.

Media Contact:
Solana Tanabe
Allison + Partners Northern California
ColliersNorCal@allisonpr.com


 

 


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Mark Maguire

Executive Vice President

Oakland

In my 23 years in the business, I have specialized in the sales and leasing of warehouse, industrial, R&D, and investment properties in the Bay Area. My clients include a variety of institutional owners and developers as well as corporate tenants in the distribution, ecommerce, manufacturing and R&D sectors. 

I started in commercial real estate in 1994 for BT Commercial, now Cushman Wakefield, where I was a partner and companywide ‘Dealmaker of the Year’ several times before moving to Colliers International in 2008.    Colliers has provided me the platform I need to better serve my client’s needs locally and in other markets.  In total since 1994, I have completed over 1200 transactions in excess of $3 billion. 

The competitive nature of the business, as well as the importance of good relationships in commercial real estate is why I enjoy coming to work every day.  It is my responsibility to fully understand my client’s priorities and goals, then deliver on those needs.  I value making sure my client’s priorities and goals come first in any transaction.    The relationships I have created through this business is a constant reward and many clients have become good friends outside of the workplace. 

Outside the office, I enjoy all outdoor activities and sports.  Competitively I played for the Cal Golf team from 1989-1994, and continue to play in regional as well as national golf tournaments.  I am a ten-time Club Champion at Claremont Country Club in Oakland.  In giving back to a sport that has meant a lot to me, I enjoy supporting and serving on the board of The First Tee for the East Bay, a non-profit organization that supports the development and success of under-privileged kids through golf.

 

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Justin Smutko

Senior Vice President

Oakland

Justin specializes in the sale and leasing of industrial owner-occupied and investment properties in the San Francisco Bay Area, with an emphasis in the east bay from Richmond to Fremont along the I-80 / I-880 corridor.  His clients include a mix of local, regional and national tenants across the ecommerce, distribution and manufacturing sectors, as well as a vareity of institutional and owners and developers, and "mom-and-pop" ownership groups.  In addition to providing full brokerage and advisory services for all types of industrial/warehouse properties, Justin and his team have developed a special niche within the food-grade processing and  cold storage / distribution asset class.  

Justin takes enormous pride in providing the highest level of market knowledge, analysis, insight and creative vision to all of his tenant, owner/occupier and investor clients.  The Colliers platform and extensive network only helps to achieve that, and he regularly collaborates with Colliers colleagues on a regional and national level in an effort to better serve the broader geographic needs of his clients.   

Every client’s operational and logistical needs are unique, so it is important to develop an understanding of each client’s business goals and requirements.  Justin is very protective and appreciative of his clients short and long term plans, and places a significant value on their real estate and facility needs.  He never feels satisfied until they have been placed in a situation that contributes meaningfully to their overall success.  Both the business and personal relationships that Justin has been fortunate enough to create during his time at Colliers has been the most rewarding aspect of commercial real estate career to date.

Prior to joining Colliers International in 2011, Justin worked in the commercial real estate industry for 12 years in the greater Phoenix metro area, where be focused on the sale  of residential and commercial land to master-plan community developers, national and local homebuilders, and speculative land investors.   During this time, Justin's skill set evolved to include representing private lenders and public banking institutions in the valuation and disposition of distressed assets and sub/non-performing notes.  

When not at work, Justin loves to spend time with his wife Olya and two sons, Anton and Roman.  And in his spare time he enjoy skiing, hiking, camping, golfing, playing various sports, and anything that involves enjoying the outdoors. 

 

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Nick Mascheroni

Vice President

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Nick is a San Francisco East Bay industrial real estate expert. He focuses a majority of his efforts on the I-80/I-880 Corridor. His in-depth knowledge of the various submarkets gives his clients a unique perspective on market dynamics and off-market opportunities. Nick also represents several institutional owners on larger landlord representation assignments, including Prologis (NYSE: PLD), Terreno Realty (NYSE: TRNO), Westcore Properties and FJM Investments. 

Nick assists his clients in site selection, lease/renewal negotiations, acquisition/dispositions, lease vs. own analysis, financial modeling, and 1031 exchanges.

Outside of work, Nick loves any and all sports; most vacations involve surfing, fly fishing, or skiing.  Nick is a proud supporter Trout Unlimited. 

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