Oakland, Calif., January 9, 2014 – Colliers International recently completed the largest new industrial lease in the East Bay since 2009. Colliers International represented Clarion Partners (“Landlord”) in the lease of a 332,951 square foot Warehouse in Hayward, California. Nor Cal Moving Services (“Tenant) signed a long term lease and will be consolidating several locations in their new Hayward facility. Clarion Partners was represented in the transaction by Kevin Hatcher, Mark Maguire, and Mike Goldstein of Colliers International.
“This is the largest new lease signed by an industrial tenant in Hayward in the past decade, and further illustrates the vibrant health of the East Bay Industrial market”, said Mark Maguire, Senior Vice President with Colliers International. Colliers International’s market research indicates that market vacancy for Warehouse product is down over 40% year over year, at 6.0% currently.
Clarion Partners is Headquartered in New York City with offices throughout the US, Europe, and South America and manages funds in excess of $28 Billion.
“With a scarcity of high quality industrial buildings on the market for lease or sale, Clarion’s Hayward asset provided a unique solution for consolidation and expansion in the Bay Area for Nor Cal Moving Services. Generally speaking, the largest industrial tenants are migrating east to San Joaquin County to find functional bulk distribution space north of 300,000 square feet simply because of lack of supply in the Bay Area”, said Kevin Hatcher, Vice President with Colliers International.
Orchard Commercial is the property manager for Clarion Partners and Nor Cal Moving Services was represented by Damon Schor, Robert Ferraro, and Michael Barry from CBRE.
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. For the latest news from Colliers International, visit colliers.com/us/news or follow us on Twitter: @ColliersIntl
About Clarion Partners
Clarion Partners has been a leading U.S. real estate investment manager for more than 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in São Paulo, Brazil and London, England as well as a presence in Mexico. With more than $28 billion in total assets under management, including more than 100 million square feet of industrial assets in the U.S., Mexico and Brazil, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. www.clarionpartners.com.