Jon Cook of Colliers International in Pleasanton tells GlobeSt.com that Mon Chong Loong is an ethnic food distributor and will use the location for warehouse space.
"The lease is a good one because of its location, which is close to area freeways and has an abundance of housing options for employees," Cook says. "Also, because it moved from one location within the business park to a bigger space, it made for an easy transition for the company."
Cook also tells GlobeSt.com that, according to Colliers' 2001 first quarter market report, the Interstate 880 Corridor still has a low vacancy rate. The overall rate has increased to 3.8% from 3.7% in the fourth quarter of 2000.
"Hayward still has some of the lowest vacancy rates around, which is due, in part, to its central location but also to the reasonable lease asking rates," Cook says.
Cook represented Mon Chong Loong in the transaction; Joe Fabian of BT Commercial negotiated for UBS Realty.
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