Harsch Buys Pair of East Bay Industrial Parks

UNION CITY, CA-Chamberlain Associates of Pleasanton has sold two of its East Bay business parks to Harsch Investments of Portland, OR for $64.5 million. The two properties, one in Union City and the other in San Leandro, have a combined 446,000 sf that are home to some 50 tenants. Vacancy is approximately 10%.

Harsch’s Bay Area regional manager Nancy Gille tells GlobeSt.com that the parks are well leased due to their range of building types and proximity to the Port of Oakland, San Mateo Bridge and Interstate 880. Given the movement in rents the past few years, the upside in this investment will come in the form of increased rents as leases roll, Gille says.”These are core assets,” she says. “A rising tide raises all ships; we expect to ride the tide of improving conditions in the region.”

The larger of the two is Dowe Business Park, a 10-building park at the northwest corner of Alvarado Niles Road and Dowe Avenue in Union City. Built in the latter half of the 1980s, it totals 353,763 sf (net rentable). The buildings range in size from 16,274 sf to 53,199 sf and are built out for office/flex, R&D and light industrial uses.