The property is a 44,000-sf building, located at 2403 Washinton Ave. in San Leandro. According to Dan Bergen, a broker of Colliers International, "demand remains strong for multi-tenant industrial in San Leandro. Cap rates are dropping quickly on multi-tenant projects because of low interest rates, low long-term bond rates, and because companies are interested Bay Area trophy locations," he says.
Bergen and Jim Bohar, also with Colliers, represented the seller, RylockWindow. Bohar represented the buyer, Sawhney Trust.
Another industrial building changed hands in Oakland. Pan American Enterprises purchased the 18,200-sf building, which is located at 8001 Edgewater Dr. The sale price was not disclosed.
According to Colliers, the purchase of the property will allow Pan American Enterprises to expand and continue its import and export business. The company will move from leased space in Concord to be closer to the Oakland airport.
The property is located in the Oakland Airport Business Park near Interstate 880 and Oakland International Airport. A portion of the property was, at the time of the sale, leased to West Coast Contractors.
Norm Eggen represented the sellers, a group of five individuals and trusts. Bill Hillis and Curt Scheve, also with Colliers, represented Pan American Enterprises.
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