OAKLAND, CALIF. – October 12, 2022 – CBRE subleased a 94,600 sq. ft. warehouse building in San Leandro, Calif. Service West will begin their sublease in November 2022.
Bob Ferarro, Michael Barry and Chris van Keulen of CBRE represented the sublessor, Service West, Inc. Colliers represented the sublessee, Logistics.
“Despite economic headwinds and volatile markets, the industrial market along the I-880 corridor continues to show normal, if not better, leasing activity. The property’s proximity to the Oakland Airport and Port of Oakland is highly desirable among industrial users and ideally situated to service the broader Bay Area,” said Michael Barry, executive vice president of CBRE.
Located at 2350 Williams Street, the building has seven docks, 2,500 sq. ft. of office space and 23 ft. clear heights.
The East Bay has been among the hottest industrial markets in the country this year. Industrial vacancy in the third quarter of 2022 was 2.8 percent, up slightly from 2.5 percent in the second quarter. However, leasing activity in the third quarter outpaced vacancy, in terms of sq. ft., as new construction products were pre-leased.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.