Pair of Owner-Users Buys Total 480,000 SF, $22M

HAYWARD, CA-Three industrial buildings totaling 480,000 sf recently sold to owner-users for a combined price of about $22 million, according to brokerage firm involved in the transactions. In the larger of the two deals, publicly traded AMB Property Corp. sold a 230,000-sf warehouse at 31281 Wiegman Rd. and the 10 acres it sits on to Che Chen Liu & Shu Fen Liu, the owners of Royola Pacific, an importer, marketer and distributor of furniture products. The purchase price was $14 million, or about $61 per sf, which is right around replacement cost in a market where one would be hard pressed to find 10 acres of developable land.Greig Lagomarsino and James Morris with Colliers International’s Oakland office brokered the sale. Lagomarsino didn’t go into detail about the sale price, but did say Burke Beverage’s leasehold on the facility was terminated as part of the transaction. Other local brokers tell GlobeSt.com Burke sold its distributorship a while back and had been trying to sublease the warehouse when the owners of Royola Pacific came along. Burke reportedly paid a discounted lease termination fee to get out from under its lease obligation.The building, which includes 20,000 sf of office build out, is located near Interstate 880 with access via the Whipple Road interchange. Lagomarsino says the buyer will use their new building to consolidate Royola Pacific operations from two separate facilities into a single regional headquarters. Several miles away, at the foot of the San Mateo Bridge Approach (Highway 92), a 153,818-sf, two-building industrial complex recently was sold to the owners of Moss Precision for $8.3 million, or about $54 per sf. The buildings are located at 4120-4142 Point Eden Way, within the Bridge Point Business Center. Moss Precision, a machine shop and sheet metal fabrication company, is relocating its headquarters to the larger of the two buildings (4120) from another location in Hayward (24619 O’Neil Ave.) that it will continue to utilize. The second floor of the other building is leased to Exel Logistics, a supply chain management company, and the first floor is being marketed for lease by Colliers.Dan Bergen with Colliers International in Pleasanton represented the buyer in the transaction. CB Richard Ellis brokers Katherine Kelleher, Michael Walker and Doug Norton represented the seller. Neither Bergen nor Norton was available for comment.