Dermody Properties Acquires 130,000 SF in Bay Area
Dermody Properties recently acquired a 130,000-square-foot facility located at 31033-31055 Huntwood Avenue in Hayward, California. Dermody Properties will begin renovating the property this year, making it available for lease in mid-2017.
“We are excited to acquire a building of this size on Huntwood Avenue,” said George Condon, Dermody Properties’ West Region Partner. “The East Bay is an important market to Dermody Properties and key to expanding our national footprint. We are pleased to introduce our best-in-class product and services to the Bay Area’s thriving industrial community.”
“This was an extremely timely acquisition for Dermody Properties,” said Steve Kapp, a Newmark Cornish & Carey executive managing director who handled the sale of the property together with Associate Director Curtis Stahle. “Currently, just four properties offer space of comparable size available for lease in the I-880 corridor market from San Leandro to Fremont. The updated center is poised to capture a motivated East Bay industrial community.”
Currently 20% occupied by Wohler Technologies, Inc., the entire property will become available for lease in June of 2017. Mr. Kapp and Mr. Stahle were retained by Dermody Properties to market the facility for lease.
Featuring large floor plates, dock and grade level loading and a showroom, the facility is well-suited to house advanced manufacturing companies with heavy power requirements, warehouse operations and showroom or wholesale retailers.
Located in the prestigious Crocker South submarket, the facility is blocks from Interstate 880, the central East Bay transportation artery with easy access to Highway 92/San Mateo Bridge, Highway 84/Dumbarton Bridge, the Port of Oakland, airports, Silicon Valley and Central Valley.