Edgewater is owned by publicly traded AMB Property Corp., which purchased the development a year ago for investment and redevelopment purposes. The property, located at 7200 Edgewater Dr., is directly across Interstate 880 from the Oakland-Alameda County Coliseum.

"This is a substantial relocation from the Peninsula to the East Bay," said Greig Lagomarsino, the senior vice president in the Oakland office of Colliers International, who brokered the deal for AMB with partner Todd Severson. Marcella Harrison with GVA/Beitler represented Metro.

Metro will use around 200,000 sf for plant and distribution use and the remainder for regional offices. Another 48,000 sf are still available for immediate occupancy. John Rossi, senior vice president of operations at AMB, said being able to sign a 10-year lease to a superior credit tenant with little downtime and nominal tenant improvements confirms there are still companies out there looking for space despite the economy.