Emeryville, CA (March 22, 2016) —Newmark Cornish & Carey today announced the nearly $14 million sale of a 122,500-square-foot industrial warehouse property in Hayward, Calif. Leading global provider of packaging, crating and logistics, Transpak, Inc., purchased the property to serve as its new headquarters.
“This off-market sale illustrates the strength of the East Bay warehouse market,” said Shawn Klein, the Newmark Cornish & Carey associate who represented the local investor selling the property. “With vacancy rates below five percent, owner-users and investors are creating their own opportunities, pursuing quality properties to secure long-term occupancy solutions.”
Located at 20415 Corsair Boulevard, the property boasts excellent access to both Interstate 880 and Highway 92. The building includes approximately 8,000 square feet of office space. A sublease with the previous tenant, Integrated Distribution Services (IDS), expired at the end of February.
Cushman & Wakefield’s Jay Hagglund represented the buyer.
About Newmark Cornish & Carey
A dominant regional real estate force since 1935, Newmark Cornish & Carey has an expansive reach as part of Newmark Grubb Knight Frank, one of the world’s leading commercial real estate advisory firms. Regionally, Newmark Cornish & Carey has more than 280 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.newmarkccarey.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,800 professionals operate from more than 370 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.