"There's been a tremendous amount of momentum in the Hayward market, with very little available product like this," says Lagomarsino, an SVP in Colliers International's Oakland office. "Larger class A distribution facilities, like this one, are difficult to find right now. So while typically buildings like this can sit on the market 12 to 18 months, we were able to re-tenant Wiegman Distribution Center with two tenants in only six months."

Lagomarsino adds that the transaction points to the continued expansion of local companies as well as the continued migration of companies moving from the San Francisco peninsula to the East Bay. "Hayward is still the bull's-eye for distribution facilities in the Bay Area, with large companies continuing to choose the city as the site of their regional headquarters. As a result of the size of these transactions and others in the works, the vacancy rate in Hayward is definitely headed lower."

Over at Rreef's Hayward Business Park, Lagomarsino brokered a $2.5 million lease to the Gene Schick Co., the exclusive wholesale distributor for Viking Range Corp. products for the Northern California, Western Nevada and Hawaii market. GSC signed a 54,000-sf 87-month lease with Rreef for a facility located at 30826 Santana St. in Hayward. Relocating from another Rreef-owned property in Hayward, the company will use the new facility as the site of its headquarters and state-of-the-art showroom