In the largest of the three lease deals, Bayport Warehouse & Distribution signed a long-term lease for a 40,000-sf building at 750 139th Ave. that is owned by St. Paul Properties/Legacy Partners. The property is located within San Leandro Business Park, a large manufacturing-warehouse complex housing area housing companies such as the Ghirardelli Chocolate Factory, Cintas Corp. and KP Graphics. The value of the lease is approximately $1 million.
Colliers' Dan Bergen represented the building owners. Drew and Tom Fisher of the Sutherland Co. represented the tenant.
Bergen says Bayport is moving because its Oakland location is to be redeveloped, changing use. "The San Leandro warehouse will ultimately be more functional for its growing needs," he says. "Warehouse-type space is also trending toward very tight market conditions and this may soon increase rents exponentially."
In another Bergen-brokered deal, Paceco Corp. signed a 62-month headquarters lease for an 18,000-sf single story R&D building at 25503 Whitesell St. in the Whitesell Business Park at the entrance to the San Mateo Bridge in nearby Hayward. Paceco Corp. is leasing the building from Huynh Investment for approximately $750,000. Colliers brokers Bob Ferraro and Jim Morris partnered with Bergen in the transaction.
Paceco is one of the world's leading suppliers of container handling equipment for marine terminals. Bergen says the company will relocate from its smaller current Hayward location in early November.
In the third deal, Pro-Shore LLC, a Las Vegas-based shoring firm, signed a 36-month lease for 27,000 sf at 2100 Atlas Rd. in the Pinole Point Business Park in Oakland. The class A office space consists of a one-story corner unit that holds 5,975 sf of office space. Pro-Shore will use the property as its regional headquarters. The value of the lease is $450,360.
Greig Lagomarsino, SIOR, senior vice president and Todd Severson, SIOR, senior vice president of Colliers International's Oakland office represented building ownership. David Park of Orion Real Estate represented Pro-Shore LLC in the transaction.
Lagomarsino says the property did not spend much time on the market. "Pro-Shore needed to relocate from its prior location because the facility they occupied didn't have enough room for expansion," he says.
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