Sagard Real Estate Acquires Bay Area Industrial Property

October 31, 2025

Investment Industrial News San Francisco More West

The site also includes a separate maintenance facility and a laydown area.

Sagard’s newly acquired industrial facility in San Leandro, Calif. — Sagard’s newly acquired facility was completed in 1973 and most recently renovated in 2024. *Image courtesy of Sagard Real Estate*

Sagard Real Estate has acquired a 260,989-square-foot industrial facility in San Leandro, Calif., in the Oakland–East Bay industrial corridor, the real estate investment advisor announced Friday. The property sold for more than $62 million, according to The Registry.

The facility features 28-foot clear heights, 30 dock-high doors, four grade-level doors and loading on three sides. It’s sited on 10.8 acres, with multiple access points across the site.

The property also includes a 2,600-square-foot maintenance facility and an adjacent 1.4-acre laydown yard. The property was completed in 1973 and most recently renovated in 2024; upgraded electrical power is scheduled for completion later this year.

The location reportedly provides easy access to I-880 and I-580, Oakland International Airport and the Port of Oakland.

Sagard did not disclose a dollar amount, identify the seller or provide the property’s street address.

Information provided by Yardi Matrix, however, suggests that the property in question is at 2021 Farallon Drive in San Leandro, a Class B building of the appropriate size and age. If this is indeed the correct property, its most recent owner was the Rosalinde and Arthur Gilbert Foundation, of Santa Monica, Calif. Of interest, one street address associated with the foundation online is 2013 Farallon Drive, which is in the 2021 Farallon Drive building.

Based in Denver, Sagard Real Estate is the former EverWest Real Estate Investors, a strategic partner of Sagard since 2021 that rebranded to its current identity in October 2023.

Ups and downs in the East Bay

The East Bay’s industrial space market is seeing overall vacancy climb somewhat, up by 200 basis points year-over-year to 8.3 percent, as asking rents decline slightly, by 2.4 percent year-over-year, according to a third-quarter report from Kidder Mathews.

2021 Farallon Drive in San Leandro, Calif. *Image courtesy of Yardi Matrix*

Nonetheless, the brokerage reports, leasing activity is staying strong at 6.5 million square feet year to date, although direct net absorption fell in the third quarter to a negative 494,000 square feet. Fortunately, the construction pipeline is currently empty.

In the growing nationwide race to refinance CRE loans, Sagard appears to be holding its own.

In May, Sagard nailed down a hefty $257.7 million financing package from Wells Fargo, with the proceeds going toward refinancing 16 industrial properties, mostly shallow-bay buildings, totaling 1.7 million square feet and spanning eight states.

And in October, Sagard Real Estate secured a $99.3 million refinancing deal for a 936,775-square-foot Class A industrial campus in Thornton, Colo., in metro Denver. Walton Street Capital provided the funding for the nine-building 25 North campus, and JLL Capital Markets represented Sagard.