Dermody Properties, a national industrial real estate owner-operator headquartered in Reno, Nevada, recently acquired the nearly 130,000-square-foot 31033-31055 Huntwood Avenue facility in Hayward from a private investor. Renamed LogistiCenterSM at Huntwood, Dermody Properties will renovate 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 LogistiCenter 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 LogistiCenterSM at Huntwood for lease.
Featuring large floor plates, dock and grade level loading and a showroom, LogistiCenterSM at Huntwood 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, LogistiCenterSM at Huntwood 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.
About Dermody Properties
Dermody Properties is a privately owned industrial real estate investment, development and management firm, founded in 1960. The firm specializes in acquisitions and development of industrial real estate in strategic locations for Internet fulfillment centers, third party logistics, food packaging and distribution. To learn more about Dermody Properties, visit www.Dermody.com.
About Newmark Cornish & Carey
A dominant regional real estate force since 1935, Newmark Cornish & Carey has an expansive reach as part of Newmark Grubb Knight Frank, one of the world’s leading commercial real estate advisory firms. Regionally, Newmark Cornish & Carey has more than 280 agents in 13 strategically located offices throughout Northern California, creating a powerful platform from which to deliver superior services locally, while upholding its core values of integrity and knowledge. For further information, visit www.newmarkccarey.com.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.