Off-market acquisition and a partial leaseback of a well-located and functional asset in the San Leandro submarket with a value-add business plan. The industrial asset comprised of two buildings (81,490 sf & 40,196 sf) built in 1968 and totaling 121,686 rsf on 6.57-acres (42.5% FAR). Property features include 28’ clear, 200’ building depth, 130’ truck courts, 23 DH doors (1/5,000 sf), multiple GL ramps with drive-in doors, and 0.70:1,000 sf parking (85 parking spots including 37 truck stalls) in addition to a fully secured excess yard on the south side of the property currently utilized by the seller.
San Leandro is a large submarket, containing roughly 25.6 million SF of industrial space. Desirable location in the center of the East Bay industrial market. The Property features excellent connectivity via I-880 (2 miles) with both Oakland Airport (7 miles) and Port of Oakland (13 miles) in proximity to the property. The East Bay is a high barrier to entry market with limited supply pressure due to land constraints and municipal restrictions on new construction.