Wayfair & CEVA Freight Take ±163,000 SQFT in San Leandro’s Comstock Industrial Center

Comstock Industrial Center, Wayfair, CBRE, Oakland, Bay Area, CEVA Freight

Comstock Industrial Center, Wayfair, CBRE, Oakland, Bay Area, CEVA Freight

First New Industrial Development in San Leandro in 15 Years

OAKLAND, CA – June 15, 2017 – CBRE Group, Inc. today announced that Michael Barry, Senior Vice President, and Bob Ferraro, SIOR, Senior Vice President, from CBRE’s Oakland office have successfully leased the new ±163,000 square feet Comstock Industrial Center located at 2388 Williams Street in San Leandro, California

The Comstock Industrial Center, the first new industrial development in San Leandro in 15 years, was fully leased by the CBRE team before completion to two tenants on behalf of the landlord, Comstock Realty Partners. The state of the art warehouse is strategically located off Doolittle Drive, ¼ mile from Oakland International Airport and 10 miles from the Port of Oakland.

The Comstock development consists of new construction with 32 feet clear height, ESFR sprinkler system, and gated yard with 279 parking spaces and ample space for potential trailer and container parking.

The first lease arranged by the CBRE team is with Wayfair, LLC for 81,000 Sq. ft., represented by Jason Ovadia at JLL. The second tenant leasing the remainder of the Center is for 82,000 Sq. ft. by CEVA Freight, LLC. Ken Morris from CBRE’s Oakland office represented CEVA Freight, LLC, in securing the lease.

“The Comstock Industrial Center will benefit these tenants not only from the brand new construction, but also the proximity to both the Oakland Airport and the Port,” shared Michael Barry. “We were excited to secure this successful outcome for Comstock Realty Partners before completion of the construction of their new industrial development.”

This project is another example of new construction leasing at, or prior to, completion. It points to high demand for contemporary product with 32 feet clear height and ESFR Sprinkler systems. A key benefit to the Comstock Industrial Center development is the desirable clear height being delivered via the new construction. Based upon CBRE Research, only 4.9 million Sq. ft. (or less than 5%) have a clear height of 32 feet or greater. With this lack of availability in the market, the options of the modern distribution user are severely limited.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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