Golden West Sales Inc. of Hayward has signed a five-year lease for more than 30,000-sf of warehouse distribution space at 1956 Sabre St. The lease is valued at approximately $550,000.
Golden West Sales plans to assume the lease on June 15, although there may be consideration for early occupancy. The new facility is located in North Hayward and is approximately 15% larger than the firm's previous location.
Craig Hagglund, of Lee & Associates East Bay Inc., represented the Lessee, Golden West Sales Inc., and BT Commercial Real Estate represented the Lessor, RREEF in this transaction.
According to Lee & Associates, the Hayward warehouse distribution marketplace currently has approximately 15% of its product type available for lease or sublease.
Nearby, in San Leandro, Consolidated Electric Supply, an Oakland-based electric company, has signed a five-year lease to occupy 14,000 sf at 1906 Republic Ave. The lease is valued at approximately $575,000.
Craig Hagglund and Chris Schofield of Lee & Associates East Bay Inc. represented both parties in this transaction. According to Hagglund, the San Leandro light industrial marketplace has about 10.5% of its product type available for lease or sublease. Hagglund says that San Leandro remains one of the strongest industrial markets in the East Bay Area.
The East Bay industrial market has fared relatively well in comparison to the office market. By the end of 2002, the industrial market experienced stability for the first time in two years, as well as a similar impact on net absorption.
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