BENICIA, Calif., July 14, 2016 - Cushman & Wakefield has orchestrated an industrial lease renewal and a new commitment totaling 318,000 square feet for third-party logistics firm Yandell Truckway's Santa Clara Warehouses division in Benicia. The transactions mark the continued expansion of this long-time San Francisco Bay-area tenant.
Tony Binswanger and Brooks Pedder of the commercial real estate services firm's Walnut Creek, Calif., office, represented Santa Clara Warehouses in both long-term transactions. The same team, along with their colleague Bo Harkins, also represented GLP, the landlord at both sites.
Santa Clara Warehouses renewed its full-building, 261,000-square-foot lease at 363 Industrial Way. The company has occupied that property since 1998. At nearby 360 Industrial Court, Santa Clara Warehouses has committed to 57,000 square feet; the additional space will accommodate its headquarters relocation from Pleasant Hill, Calif.
"Yandell Truckway has been in business for more than 70 years and, with its Santa Clara Warehouses operation, has amassed a significant industrial real estate footprint," noted Binswanger. "Maintaining this company's headquarters presence regionally is a big win, as is finding ways to accommodate its growth along the Solano/Napa/Contra Costa corridor, where the vacancy rate has dipped below 5 percent."
Binswanger's and Pedder's relationship with Santa Clara Warehouses dates back to the mid 90s. Over the years, the team has completed 15 transactions totaling more than 1.5 million square feet on the company's behalf.
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2014 globally, this group completed more than 8,200 industrial lease and sale transactions, including Capital Markets transactions, totaling nearly 337 million square feet with an aggregate value in excess of $16.8 billion.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.