Black Creek Group Spends $48.5MM for 241,591 Square-Foot Class A Industrial Building in Livermore

Livermore, Crow Holdings Industrial, Colliers, 7600 Hawthorne, Livermore, CBRE, Black Creek Group, San Francisco, Silicon Valley, Oakland, Tracy

Livermore, Calif. (September 23, 2020) – Leading real estate professional services and investment management company Colliers International recently represented Los Angeles-based Crow Holdings Industrial in the sale of 7600 Hawthorne Avenue in Livermore. Colliers Executive Vice President Michael Lloyd and Executive Managing Director Michael Carrigg worked with CBRE to represent the seller and buyer, Black Creek Group, a Denver-based leading real estate investment management firm.

“Demand for state-of-the-art industrial buildings is on the rise, and with e-commerce in high demand, companies are looking for real estate in suburban areas, like Livermore, that are in or near distribution hubs and warehouse spaces with footprints of 50,000 to 200,000 square feet,” said Lloyd. “Many companies find Livermore-type markets ideal, because they’re cheaper and offer access to important places like San Francisco, Silicon Valley and the Port of Oakland.”

Construction of 7600 Hawthorne Avenue was completed in 2019. The property is divided into 5 percent office space and 95 percent warehouse space. Black Creek Group purchased the property partially occupied. They are currently marketing the building’s vacant space and expect to see activity from a variety of industries including e-commerce and third-party logistics providers.

“With close proximity to major transportation routes, 7600 Hawthorne Avenue was an attractive acquisition for Black Creek Group as the building’s prime location offers tenants connectivity to not only the Greater Bay Area, but the entire Western U.S.,” said Gregg Boehm, senior vice president of acquisitions and development for the Western Region. “Additionally, this acquisition represents the kind of deals we are looking for, as we are actively pursuing high-quality industrial opportunities in strong performing markets like this.”

Located in the National Business Park, 7600 Hawthorne Avenue is situated one and a half miles away from the I-580/I-680 interchange which offers access to Tracy, the Silicon Valley and the Port of Oakland.

About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.

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