Charity Auction Services inked a five-year lease for an eight-acre parcel on Loveridge Road. The property, which is located in the Contra Costa Industrial Park, will be used to hold bi-weekly auto and equipment auctions.
According to Curt Scheve of Colliers International, "there are just a few parcels of land in Contra Costa available for this type of use." Because the space will be used for auctions, the lease will also create significant tax revenue for the city. The lease rate was not available.
Nearby, Home Concepts, a multi-store furniture retailer, signed a five-year, 40,000-sf lease, which is valued at around $750,000. Home Concepts will move from its current space in the former JC Penney clearance center at East County Mall, which is being cleared for additions to the mall. Home Concepts will use the building, located near the California Avenue/Loveridge Road intersection, as a warehouse to support its Pittsburg and Brentwood stores.
Scheve and Phil Garrett, both with Colliers, represented Charity Auction Services in the first deal, while Tom Cranmer with Cranmer & Associates represented the landlord, Libitsky Property Companies. Scheve and Jeff Barnes, also with Colliers, represented Home Concepts in a second deal, while Scheve and John Sechser, also with Colliers,represented the landlord, The Ward Companies.
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