Oakland, Calif., February 13, 2018 – Colliers International announced today the acquisition of a ±205,927 square foot industrial/manufacturing warehouse building located at 8511 Blaine Street, in Oakland, CA by LBA Realty for $15,550,000.
The facility was acquired by LBA Realty LLC (www.lbarealty.com). LBA Realty owns and operates an industrial portfolio that totals over 26 million square feet located throughout the western United States.
8511 Blaine Street is a ±205,927 square foot, warehouse manufacturing building situated on +/-7.2 acres. The building features clear height ranging from 18’- 20’, 5 loading docks, 2 grade level openings, ample trailer/employee parking, rail service, T-5 motion sensor lighting, heavy power, sprinklers, and a yard area that is fully fenced with secured perimeters.
The building was formerly owned and occupied by KapStone Paper and Packaging (NYSE: KS), and served as their main Northern California manufacturing plant prior to its closure in August of 2017.
The building has unobstructed frontage on San Leandro Street and is visible from BART which will provide great signage opportunity for the future tenant. There is immediate access to I-880 via Hegenberger Rd or 98th Ave interchanges. The property is close proximity to Oakland International Airport and Port of Oakland.
“This is an extremely rare opportunity to own industrial real estate in a significantly supply constrained market,” said Greig Lagomarsino, Executive Vice President of Colliers International’s Oakland office.
Greig Lagomarsino, SIOR and Nick Ousman of Colliers International’s Oakland office represented both the seller and the 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.
About Colliers International Group
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that helps clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.