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Moving and Storage Firm Leases 98,000-SF Building

PLEASANTON, CA-Cor-O-Van Moving & Storage inks a seven-year lease for an industrial building on Sunol Boulevard. The one-time manufacturing building traded hands earlier this year after sitting vacant for a couple of years.

By Brian K. Miller | Updated on August 03, 2004

PLEASANTON, CA-A moving and storage company leased a 97,750-sf industrial building here that traded hands earlier this year. The building is situated on 8.4 acres at 5555 Sunol Blvd.Cor-O-Van Moving & Storage signed a seven-year lease valued between $3.2 million and $3.3 million. The price translates to an average lease rate of just under $0.40 per sf per month.In January, Creanova, a manufacturer and distributor of paint, sold the building to Don Bruzzoni of Harbor Court Associates for about $6 million, or about $61.22 per sf. Bruzzoni then invested an undisclosed amount to modernize the facility.Ned Wood and John Steinbuch with Colliers’ local office represented Bruzzoni in the purchase of the property and David Bruzzone with CM Realty represented Bruzzoni in the lease to Cor-O-Van. Mark Triska of Colliers’ local office negotiated the lease for Cor-O-Van.Wood tells GlobeSt.com that Bruzzoni had Cor-O-Van in tow as a serious candidate for the building when he tied up the building late last year. The building had sat empty for a couple of years, says Wood.”Cor-O-Van began looking for warehouse space in the Livermore market but then made a strategic decision to stay close to the 580/680 corridor,” adds Triska. “They were very lucky to find this property. Warehouses of this size are almost non-existent, with 0% vacancy rate for warehouses currently available in the Pleasanton market.”Cor-O-Van recently occupied the space. It will use the building for storage, household goods, office products and file storage.

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