Fremont, California – Casey Ricksen, SIOR, Senior Vice President with Colliers International in Oakland, recently closed the largest USER occupied Distribution Sale of the Year in Fremont, CA. The terms of the sale are confidential.
CW Kato Investors LLC purchased 47550 Kato Road, a ±254,593 square foot warehouse in Fremont, CA on December 30, 2013. The warehouse distribution building has ±30’ clear height, excellent sprinkler system and staging area, 34 dock doors, and will be owner occupied. Westcore Kato, LLC, the properties seller, was represented by Craig Bevan, Doug Norton and Michael Walker of CBRE Oakland. Financing was provided by Tom Signorelli with Westgate Financial.
Homelegance, Inc. will be the affiliate company occupying the building. They will be relocating from their current ±330,000 square foot facility in Hayward, CA. Homelegance and its’ affiliates have been consolidating their facilities to Fremont. They are also nearing completion of a +/-95,000 Build to Suit in Fremont which is scheduled for occupancy in the first quarter of 2014. Casey Ricksen, SIOR is also the Broker of record for the “Build to Suit” by Sisler & Sisler Construction.
“This transaction is a win/win for both parties and is further evidence of a strengthening trend in User Acquisitions along the 880 Corridor. The inventory of quality larger warehouse buildings for sale is almost nonexistent and many of the recent large facility sales were not on the market for sale but were only being marketed for lease, This was a great acquisition given the freeway identity, functionality, and close proximity to the Buyer’s main distribution facility” according to Casey Ricksen, SIOR with Colliers International.
About Colliers International
Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.