Hayward, Calif. (September 24, 2018) – Colliers International is pleased to announce the sale of a +/93,345 square foot new state-of-the-art industrial building situated on approximately +/-5.86 acres located at 28500 Marina Drive, in Hayward, CA.
The new property was developed by Steelwave (http://www.steelwavellc.com/) and purchased by Blue Sea Waves, LLC dba Allure Labs (http://allurelabs.com/) for $16,800,000. “The majority of new construction this cycle has been geared toward leasing larger blocks of space, but Steelwave was able to meet the owner/user demand in marketing this property for sale,” said Mark Maguire, Executive Vice President of Colliers International’s Oakland office.
“We have been looking to get back into the industrial development market, so it was good to execute on this asset and are looking for more of these opportunities,” said Steve Dunn, Senior Managing Director of SteelWave.
The buyer plans to build out the facility, which was purchased in “shell” condition, and occupy it as their new long term Headquarters. The building is ±93,3445 square feet and features 30’ interior clear height, 8 docks and 2 grade level loading, heavy power, ESFR sprinkler system, and ample trailer/employee parking. The property is centrally located along the highly desirable I-880 Corridor and is close proximity to Oakland International Airport and Port of Oakland. There is immediate access to I-880 and Highway 92/San Mateo Bridge, and the project is conveniently located near the Union Landing retail center.
“This was a rare opportunity in such a supply constrained market to pair a user buyer with a developer to construct their future long term Headquarters. The transaction is a great outcome for the City of Hayward as well as the buyer is an existing business in the City, and will be able to stay in Hayward for the foreseeable future with this purchase,” said Nick Ousman, Vice President of Colliers International’s Oakland office.
Mark Maguire, SIOR, Greig Lagomarsino, SIOR, Nick Ousman and Justin Smutko of Colliers International’s Oakland office handled this transaction. Mark Maguire, SIOR and Justin Smutko represented the seller and Greig Lagomarsino, SIOR and Nick Ousman represented the buyer in this transaction.
SteelWave is a full-service commercial, multifamily and mixed-use real estate management, operating company and investment management firm. SteelWave and its predecessor companies, Legacy Partners Commercial and Lincoln Property West, have been active in commercial real estate for 46 years. We’ve built a reputation for successful execution by sourcing sound investments in our 6 key markets: Northern California, Southern California, Denver, Seattle, Portland and Texas. As a vertically integrated leader in the industry, we source, entitle, design, finance, develop, renovate, lease, manage and sell real estate investments on behalf of many well-known institutional clients. In 2015, SteelWave brought Dennis Cavallari of The Cavallari Group (and previously a partner with Legacy Partners Residential) on board to oversee its multifamily and mixed-use development and acquisition opportunities.
Since its inception, the SteelWave team has acquired, developed or managed 6,000 multifamily units, 60.1M SF of industrial product and 36.6M SF of office product across our Western United States target markets at a combined cost of over $10.7 billion.
About Allure Labs
Allure Labs CEO and lead chemist Sam Dhatt is passionate about chemistry and invention. He earned two graduate degrees in India – an MS in Chemistry and an MBA in Marketing and Finance. When he arrived in America he started with an entry-level job at a cosmetic formulation company. Within a few years, he became the Director of R&D.
As an expert in research and development, Sam developed specific lab methodologies, insisted on the latest lab equipment and continued to rigorously train all Allure Labs chemists with the highest laboratory standards. Using the finest ingredients and manufacturing methodologies, Sam was among the first to work with Alpha Hydroxy Acids (AHA) in 1992. He was also one of the first chemists to use macro and micro sponges by Advance Polymer System to be used in skincare formulation in loose and pressed power.
By 1995 Sam owned his own cosmetics research and development company. His work and formulation with Peptides earned him the nickname “The Peptide Man.” Allure Labs was to be among the first to use Peptides and stem cells has earned him the nickname “The Peptide and Stem Cell Man”. Allure Labs was one of the first to use both Peptides and Stem cells in the skin care products. He will continue to discover the best in skincare formulation for your products.
About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.
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