"The lease is written for the entire building, but they originally didn't need the entire thing so they're going to phase into the space and their rent phases in," Tim Hennelly, VP of development with Ryan, tells GlobeSt.com. Hennelly says tenants are drawn to Laraway for its proximity to Interstate 80. Currently is 100% occupied, the park offers the 475,000-square-foot 401 Laraway Road, fully occupied by confectionery and beverages company Cadbury, in addition to California Cartage's new space.
Built in 2004, the building being leased by California Cartage was the first construction in Laraway and designed to be expandable to 750,000 square feet. It had previously been occupied by third-party logistics firm Arnold Logistics, which at one point handled distribution for Cadbury. The building has been vacant since Arnold moved out last year.
Ryan was represented in the deal by NAI Hiffman's Steve Connolly and Eric Tresslar, while California Cartage was represented by Mike Brown of e-realty. The property offers 30-foot clear ceilings, 40 exterior truck docks, ESFR sprinkler systems, T5 lighting, and parking for 155 cars and 81 trailers.
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