Dermody Properties Leases 99,830 Square Feet in Bay Area to CHawk Technology
Dermody Properties, a national real estate investment, development and management company, specializing in acquisitions and development of logistics real estate, recently leased the remaining 99,830 square feet of its Huntwood Industrial Center in Hayward, California. The new tenant, CHawk Technology (CHawk), is a plastic component manufacturer that supplies semi-conductor companies. This building will be the company’s second facility in Hayward, housing design, engineering and assembly. By leasing the building, CHawk expects to add 120 new jobs.
Steve Kapp, SIOR and Curtis Stahle of Newmark Cornish and Carey represented Dermody Properties in the transaction, and Rick Keely of Colliers International represented CHawk.
“As investors, we look to acquire properties that need improving and repositioning. Huntwood Industrial Center fit the bill. We have made a significant investment in building improvements, and are excited to welcome CHawk,” said George Condon, Partner, Dermody Properties West Region Office. “We are pleased that a local company of its caliber and reputation chose our building. Steve Kapp and Curtis Stahle of Newmark, Cornish and Carey brought us this investment opportunity last year, and then did a great job leasing it for us.”
The Huntwood Industrial Center is a 128,580-square-foot building occupying 5.94 acres at 31033 Huntwood Avenue in Hayward, Calif., and with the addition of CHawk it is now entirely leased. The building is located in the desirable Crocker South submarket and its location on the I-880 Corridor makes it an ideally-suited distribution and manufacturing location. This will be CHawk’s second location in the United States. The company’s headquarters are also located in Hayward. CHawk has additional facilities located in Singapore, China and Malaysia.
“We are very excited to add this facility as it gives us much needed capacity and puts CHawk in an ideal position for continuous growth,” said Andy Kishore, COO, CHawk Technology Intl., Inc. “The facility is also strategically located close to our other manufacturing facilities in Hayward, where the company started in 2011.”
Dermody Properties continues to look for additional acquisition opportunities similar to the Huntwood Industrial Center in the Bay Area and throughout the U.S., and has more than 1.2 million square feet currently available for lease in the western United States.
The Oakland industrial market that encompasses the Huntwood Industrial Center has seen a steady rise in lease and property values since the recession. The market is currently experiencing a 98% occupancy rate, which is a positive sign that development will continue to increase in this industrial business hub.