Skip to main content Skip to footer

Colliers International Leases 100,000 Square-Foot Warehouse Facility in Newark

PR_7447Morton_1536x1040
OAKLAND, CA (September 23, 2020) – Leading real estate professional services and investment management company, Colliers International recently represented the landlord and tenant in the leasing of 7447 Morton Avenue, a 105,760 square-foot Class A warehouse and distribution facility in Newark. On behalf of Geomax, the landlord, Colliers' Executive Vice Presidents Greig Lagomarsino and Mark Maguire and Senior Vice President Nick Ousman brokered a 63-month lease valued at $5,100,000 for the tenant, Home Delivery Services LLC. Lagomarsino and Ousman represented the tenant.

"Home Delivery Services enlisted our help to consolidate their real estate portfolio down to one property. 7447 Morton Avenue's proximity I-880 and the Dumbarton Bridge and size were key factors that led us to make the recommendation," said Lagomarsino.

Home Delivery Services LLC signed the lease on August 20 and began occupying the space September 1. This deal comes on the heels of a strong report from Colliers on the Q2 Oakland industrial market. From April to June 2020, a reported 1,313,576 square-foot gross absorption took place along the I-80/I-880 Corridor. Leases totaling over 100,000 square-feet were signed in Hayward, San Leandro and Newark in this same period.

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn. Media Contact:
Solana Tanabe
Allison + Partners Northern California
ColliersNorCal@allisonpr.com


Related Experts

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.

 

View expert

Greig Lagomarsino

Executive Vice President

Oakland

As Executive Vice President in Colliers’ Oakland office, my brokerage practice specializes in the sales and leasing of industrial products along the I-880 & I-80 corridors as well as the Central Valley, primarily at the institutional and corporate level.

Having worked in the industrial sector for 30 years, I have been involved in more than $6 billion in real estate transactions, and I believe the breadth of my experience serves my clients in valuable ways.  I work diligently to bring a level of excellence and responsiveness to every aspect of my brokerage service.   I deeply value the long-standing client relationships I have developed over the years in the business, and get great satisfaction from being included as a valuable contributor to their team.

This is a dynamic and interesting time for Bay Area industrial real estate.  The emerging e-commerce industry and the level of demand for space has transformed the landscape of the business.  As the Oakland Industrial Team leader, I often collaborate with many exceptional colleagues here in Northern California as well as in other national organizations such as The Society of Industrial and Office Realtors (SIOR) and our National Logistics and Transportation Group.

Prior to joining Colliers in 1998, I worked at Cushman and Wakefield in Oakland.  In my free time, I enjoy golf, travel, yoga, swimming, and spending time with family and friends.  I am happy to support a number of important non-profit organizations including Aim High, Northern Lights School, U.C. Berkeley, and The First Tee of the East Bay.

 

View expert

Nick Ousman

Senior Vice President

Oakland

Specialization

Nick joined Colliers International in early 2012 specializing in the sales and leasing of industrial properties along the I-880 corridor. He is passionate about developing strong, long term relationships and providing the highest level of customer service to accelerate the success of his clients.

Business and Educational Background


Nick graduated from UC Berkeley in 2011 with a BA in Communications. He started his collegiate career with a baseball scholarship at the University of San Diego before transferring to Cal.

Nick joined Colliers International in 2012 and has quickly developed in to a top producer in representing Tenants/Landlords on warehouse, industrial, and R&D properties throughout the Bay Area. In his time at Colliers Nick has worked on approximately $600 Million of total leasing transactions and $450 Million of total sale transactions. Nick’s extensive market knowledge has earned him a stellar reputations with his clients.

Personal Background


Nick is a Bay Area native and in his free time enjoys golfing and any sort of exercise in the outdoors.  

View expert