(EDITOR’S NOTE: According to public documents filed with the county, the sale closed on October 16, 2019 for $25,015,000, or just over $191 per square foot. The seller of the property was the Pinto family trust.)
Oakland, Calif., (October 28, 2019) – Colliers International announces the recent sale of a ±130,500 square foot industrial building to CenterPoint Properties.
Situated on an approximate ±6.8-acre parcel, 5901 San Leandro Street is a distinct property as it offers rail-served industrial warehouse space and ample yard area less than six miles from the Port of Oakland. Located approximately one mile from the I-880 via the 66th Avenue exit, the property provides active rail service with ten rail doors, twenty-eight dock high loading positions, six grade level loading doors, a fully fenced and secured perimeter, and ample paved yard area ideal for truck/trailer parking and staging.
“This transaction shows the continuing demand of Institutional Capital to acquire quality industrial assets in the East Bay Market,” said Mark Maguire, Executive Vice President of Colliers International’s Oakland Office. “The increased tenant demand for last mile or last touch facilities will continue to make the East Bay industrial market one of the most sought-after markets in the country,”
“The appetite for well-located functional industrial assets with relatively low-coverage in premier infill markets such as the 880 Corridor remains at an all-time high.” said Justin Smutko, Vice President of Colliers International’s Oakland Office. “CenterPoint recognized the value that 5901 San Leandro Street provides given it’s very unique logistical attributes for a property within such close proximity to the Port of Oakland, and ability to reach the heavy consumer base of the greater Bay Area.”
The purchase of 5901 San Leandro Street represents the fourth East Bay acquisition for CenterPoint over the past ten months.
Justin Smutko, Mark Maguire, SIOR, and Nick Mascheroni of Colliers International represented both the Buyer and Seller in this transaction.
About CenterPoint Properties Trust
CenterPoint is an innovator in the investment, development and management of industrial real estate and multimodal transportation infrastructure. CenterPoint acquires, develops, redevelops, manages, leases and sells state-of-the-art warehouse, distribution and manufacturing facilities near major transportation nodes, focusing on large rail, port and trucking infrastructure assets.
About Colliers International Group
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management.