Balco Properties Closes Two Industrial Deals in Hayward for $20.7MM

Holliday Fenoglio Fowler, Pacific Distribution Center, Keystone Corporation, WPT Capital Advisors, Central Valley, Holliday GP Corp,

Hayward, DCT Industrial Trust, DTZ, 22290 Hathaway Avenue, 22300 Hathaway Avenue, East Bay, industrial, warehouse, Bay Area, Emeryville

By Jon Peterson

Oakland-based Balco Properties has added two industrial assets to its growing real estate portfolio for $20.7 million.

One of the transactions was an acquisition of an existing property. The company paid $13.9 million to acquire the 141,974 square foot warehouse/distribution property located at 3650-3864 Enterprise Avenue in Hayward.

[contextly_sidebar id=”E3aPYUTFnSHLzISAiOF4bEojGToAhkbq”]The property was sold by two entities, Parker One, LLC and SB Hayward, LLC. The sale of the asset was handled by the Oakland office of Colliers International. The listing agents were Greig Lagomarsino, executive vice present, and Nick Ousman, vice president.

The multi-tenant property on Enterprise has no vacancies at this time.

The warehouse/distribution market in Hayward has tightened up over the past quarter. According to the third quarter 2015 report by Colliers International, vacancy dropped from 5.8 percent to 5.2 percent from the second to the third quarter. There are a total of 214 buildings in the market totaling 21.1 million square feet.

The other acquisition was the $6.8 million purchase of the property located at 21201 Cabot Boulevard in Hayward. The Oakland office of Colliers worked on this sale, as well. This site totals 9.06 acres. The seller was Mobile Investors I Limited Partnership. The property was sold in an off-market transaction.

The property is leased on a long-term lease to Modular Space Corporation, dba ModSpace, the largest U.S. owned provider of temporary and permanent modular buildings. ModSpace has over 80 locations nationwide. The company uses the site on Cabot as their main storage and distribution site for the greater San Francisco Bay Area.

Balco now owns more than 60 properties in its portfolio. These include a combination of office and industrial assets. “Most of our properties are located in Northern California. We do own a couple of assets in Southern California,” says Robert Porter, comptroller for Balco. According to the company’s Web site, it has invested in a mixture of historical high rise, business park, large and small industrial, medical space, heavy and light industrial and R&D space.

West Coast Commercial Real Estate News