HAYWARD, CA—With few sizable industrial buildings in the Bay Area and perhaps in much of the state, a 100,000-square-foot-plus building has been snapped up, with more to follow, says its new owner. Along with the change in ownership, the nearly 130,000-square-foot former 31033-31055 Huntwood Ave. facility is getting a new name this year and new tenants in the middle of next year.
The industrial facility was recently acquired by Dermody Properties from a private investor. The purchase price was undisclosed. In the process, it is being renamed LogistiCenter at Huntwood. Dermody Properties will renovate the property this year, making it available for lease in mid-2017.
“We are excited to acquire a building of this size on Huntwood Avenue,” said George Condon, Dermody Properties' West region partner. “The East Bay is an important market to Dermody Properties and key to expanding our national footprint.”
Currently 20% occupied by Wohler Technologies Inc., the entire property will become available for lease next summer. Featuring large floor plates, dock and grade level loading, and a showroom, LogistiCenter at Huntwood is well suited to house advanced manufacturing companies with heavy power requirements, warehouse operations and showroom or wholesale retailers.
“This was an extremely timely acquisition for Dermody Properties,” said Steve Kapp, a Newmark Cornish & Carey executive managing director who handled the sale of the property together with associate director Curtis Stahle. “Currently, just four properties offer space of comparable size available for lease in the I-880 corridor market from San Leandro to Fremont. The updated LogistiCenter is poised to capture a motivated East Bay industrial community.” Kapp and Stahle were retained by Dermody Properties to market the property for lease.
Located in the Crocker South submarket, LogistiCenter at Huntwood is blocks from Interstate 880, the central East Bay transportation artery with easy access to Highway 92/San Mateo Bridge, Highway 84/Dumbarton Bridge, the Port of Oakland, airports, Silicon Valley and Central Valley.
“Dermody Properties is actively seeking other industrial investment properties in the Bay Area,” Condon tells GlobeSt.com. “In the next few years, we will acquire warehouse, advanced manufacturing and last-mile facilities for our portfolio.”
Dermody Properties is a national industrial real estate owner-operator headquartered in Reno, NV.
HAYWARD, CA—With few sizable industrial buildings in the Bay Area and perhaps in much of the state, a 100,000-square-foot-plus building has been snapped up, with more to follow, says its new owner. Along with the change in ownership, the nearly 130,000-square-foot former 31033-31055 Huntwood Ave. facility is getting a new name this year and new tenants in the middle of next year.
The industrial facility was recently acquired by Dermody Properties from a private investor. The purchase price was undisclosed. In the process, it is being renamed LogistiCenter at Huntwood. Dermody Properties will renovate the property this year, making it available for lease in mid-2017.
“We are excited to acquire a building of this size on Huntwood Avenue,” said George Condon, Dermody Properties' West region partner. “The East Bay is an important market to Dermody Properties and key to expanding our national footprint.”
Currently 20% occupied by Wohler Technologies Inc., the entire property will become available for lease next summer. Featuring large floor plates, dock and grade level loading, and a showroom, LogistiCenter at Huntwood is well suited to house advanced manufacturing companies with heavy power requirements, warehouse operations and showroom or wholesale retailers.
“This was an extremely timely acquisition for Dermody Properties,” said Steve Kapp, a Newmark Cornish & Carey executive managing director who handled the sale of the property together with associate director Curtis Stahle. “Currently, just four properties offer space of comparable size available for lease in the I-880 corridor market from San Leandro to Fremont. The updated LogistiCenter is poised to capture a motivated East Bay industrial community.” Kapp and Stahle were retained by Dermody Properties to market the property for lease.
Located in the Crocker South submarket, LogistiCenter at Huntwood is blocks from Interstate 880, the central East Bay transportation artery with easy access to Highway 92/San Mateo Bridge, Highway 84/Dumbarton Bridge, the Port of Oakland, airports, Silicon Valley and Central Valley.
“Dermody Properties is actively seeking other industrial investment properties in the Bay Area,” Condon tells GlobeSt.com. “In the next few years, we will acquire warehouse, advanced manufacturing and last-mile facilities for our portfolio.”
Dermody Properties is a national industrial real estate owner-operator headquartered in Reno, NV.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
