Pleasanton, Calif., October 15, 2018 – Colliers International is pleased to announce the sale of a +/-394,000 square foot industrial building situated on approximately +/-22.38 acres located at 4225 Hacienda Drive, in Pleasanton, CA.
Located in the heart of the Bay Area, 4225 Hacienda Drive is one of the Tri-Valley’s premier advanced manufacturing, warehousing and regional headquarters facility. The building was formerly owned by Cardinal Capital Partners (www.cardinalcapital.com). Cardinal Capital Partners is one of the premier middle-market private equity real estate investment firms in the United States.
The facility was acquired by Dermody Properties (www.dermody.com). Dermody is a logistics and industrial real estate investment, development, acquisition and management company. The building has potential for expansion to 473,260 SF with improvements for high image office area or office improvements to suit multiple tenants. The building features 28’-30’ interior clear height, 45 dock high doors, 4 grade level doors, and ample trailer and employee parking. Dermody plans to install a new roof and ESFR sprinklers in the facility as well as other improvements. The prime Bay Area location and unique building features will provide users an excellent alternative for their expansion needs. The property provides immediate access to all major highways and is strategically located in close proximity to the Central Valley, East Bay and Silicon Valley submarkets.
“With vacancy rates at historic lows for Class A industrial property, 4225 Hacienda Drive will attract users seeking space throughout Silicon Valley and the I-880 Corridor,” said Greig Lagomarsino, Executive Vice President of Colliers International’s Oakland office.
Greig, SIOR, Michael Lloyd, SIOR, John Steinbuch, SIOR and Nick Ousman of Colliers International along with Eastdil Secured represented both the seller and buyer in this transaction. The Colliers International industrial team have been retained as the Exclusive Market representative for the property and will offer the industrial building for lease.
Dermody Properties is a privately owned logistics real estate investment, development and management firm that specializes in acquisitions and development of real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested in more than 70 million square feet of industrial space. To learn more about Dermody Properties visit Dermody.com.
About Cardinal Capital Partners
Founded in 1988, Cardinal Capital Partners is one of the premier middle-market private equity real estate investment firms in the United States. It has also earned the reputation as one of the country’s foremost sale-leaseback experts. Cardinal’s flexible capital capabilities–along with its proven investment and asset management expertise–help corporate clients reach their financial goals. Cardinal executes on real estate investments across various product types throughout the U.S. and Europe.
About Colliers International Group
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.
Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.