Yandell Truckway Signs Leases in Benicia for 318,000 Square Feet

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By Jon Peterson

Yandell Truckway has signed two new leases in industrial properties in Benicia totaling 318,000 square feet. One part of this was an expansion for 57,000 square feet at 360 Industrial Court. There also was a renewal for 261,000 square feet at 363 Industrial Way.

“The new space was done as the company wanted to consolidate all of its space into one market. It previously had its head offices in Pleasant Hill, and this new space had enough of an office component to fill their needs,” says Tony Binswanger, a senior vice president with Cushman & Wakefield in its Walnut Creek office. He and Brooks Pedder represented both the tenant and the property owner in both of the leases.

The two properties are owned by Global Logistics Properties. This company has its home corporate office in Singapore. Its headquarters operation in the United States is based out of Chicago. With the new leases, both properties are now 100 percent leased.

Yandell Trucking will be using both spaces for its Santa Clara Warehouses division. Both of the new leases have a five-year time frame. The existing lease on Industrial Way was set to expire this month.

There are several factors that make the Benicia market an attractive one for industrial tenants and property owners. “This market is pretty close to the Port of Oakland and has good access to major roadways through the region, [these are] highways 680 and 80. These are important facts for many tenants. The overall industrial market remains very tight. The real vacancy in the market is sub four percent, and the region is really land-locked for new development opportunities,” said Binswanger. The overall industrial market in Benicia totals around 8 million square feet.

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