FedEx Freight West Leases 20-Acre Complex

HAYWARD, CA-FedEx Freight West has leased a 20-acre industrial complex here that includes a 45,540-sf cross-docking freight transfer facility, an 8,048-sf office building and a 9,600-sf shop building. Owned by a joint venture of locally based Balch Enterprises and Danville, CA-based Nearon Enterprises, the property is currently leased to an auto auction operation that is using the property largely as a place to park cars. FedEx will take over the property in January.The property, known as 880 Business Park, is located at 29001 Hopkins. None of the parties involved in the transaction would reveal the deal numbers and they were not otherwise available Thursday afternoon. Other brokers familiar with the property tell GlobeSt.com that no matter what FedEx is paying, it is no doubt more than the owners are currently receiving from the current tenant.The listing agents for the property were Dave Haugh of Grubb & Ellis and Steve Fisher of CB Richard Ellis, both based in San Jose. Representing FedEx Freight West was Mark Zamudio of Colliers International in Santa Clara. Zamudio tells GlobeSt.com that the lease is an expansion for FedEx Freight West, and it will grow into the facility over time. Fisher tells GlobeSt.com that FedEx will relocate to the new facility some operations currently located in San Leandro. In addition to the brokers involved in the transaction, C. Gregg Ankenman of Oakland law firm Wendel, Rosen, Black & Dean LLP assisted Balch Enterprises in the transaction. San Jose-based lawyer Steve Chargin represented FedEx.”This area of Hayward is attracting a number of industrial businesses because of its central location in the Bay Area, easy freeway access to major transportation routes, and the amount of land available for larger operations,” says Balch Enterprises president Jack Balch. “We work on a variety of projects throughout the East Bay, and we believe the Hayward area has a unique potential to support new growth in industries with these requirements.”