Hayward, Calif. – December 10, 2012 – Colliers International is pleased to announce the sale of 26599 Corporate Avenue, Hayward to Well Luck Company. Well Luck Company purchased the Property for immediate expansion and will be relocating out of their South San Francisco warehouse and to Hayward in the first quarter of 2013.
This is one of only four sale transactions over 100,000 sq. ft. in Hayward in 2012. “The historically low interest rate financing provides a great opportunity for well qualified buyers to acquire property with the lowest cost basis we’ve seen in years,” said Joe Yamin, Vice President of Colliers International, who represented the Buyer, Well Luck Company, together with Chet Barney of the same office. “The SBA 504 rate for December 2012 is 3.84%, fully amortized for 20 years, the lowest we’ve ever seen in commercial real estate.”
The 101,376 sq. ft. warehouse sits on 4.40 acres and was built in 1986 by Balch Enterprises for Marfred Industries and features a concrete fenced and paved yard, upgraded sprinkler system, insulation and 14 dock high doors. The building is divisible, and Well Luck plans to occupy approximately 65,000 sq. ft. and will lease out the remaining 35,000 sq. ft.
Kevin Hatcher, Mark Maguire and Greig Lagomarsino, SIOR also of Colliers International’s Oakland office represented the Seller. Terms of the transaction were not disclosed. Financing for this transaction was provided by Tom Signorelli of Westgate Financial.
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 520 offices in 62 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing 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 research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International the top U.S. real estate company. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.