Nicolosi Trust, owner of a parts-distribution company on the peninsula, will use the half-acre site, with its 7,000-sf building, as warehousing for its Nicolosi Auto Body Supplies & Distributing operation. The company has two other locations in Redwood City and San Jose.
Bob Ferraro, a vice president with Colliers International in Pleasanton, says this sale shows that warehouse values have room to grow in Hayward, despite the fact that the economy has slowed. Ferraro also says that the East Bay is clearly undervalued as compared to the Peninsula and the South Bay.
Ferraro represented the seller, Multiple Allied Corp.; Anthony Cerrone with Ocean Pacific Realty negotiated for Nicolosi Trust.
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