By Alex Girda
Hayward, Calif.—Industrial real estate company Dermody Properties recently announced the addition of a new Bay Area asset to its portfolio. The owner and operator purchased a value-add asset in Hayward, Calif., from a private investor, with an outlook to improve the property and prep it for lease availability in 2017. The transaction was arranged by Newmark Cornish & Carey representatives Curtis Stahle and Steve Kapp.
Located at 31033-31055 Huntwood Ave. in the Crocker South submarket, the property offers a total of 130,000 square feet of industrial space. Dermody has already renamed the facility to LogistiCenter at Huntwood and will position the property to boost occupancy numbers. “Currently, just four properties offer space of comparable size available for lease in the I-880 corridor market from San Leandro to Fremont,” Newmark Cornish & Carey Executive Managing Director Steve Kapp said in a prepared statement.
LogistiCenter at Huntwood offers large floor plates, dock- and grade-level loading and showroom, making it a fit for companies that deal with advanced manufacturing, warehouse operations, and heavy power requirements. The property currently operates at 80 percent vacancy, with the only tenant in place being Wohler Technologies Inc.
Image courtesy of Dermody Properties