CBRE Arranged 50,000 SF Industrial Lease in South San Francisco

CBRE arranged the 50,000-square-foot lease at 274 Wattis Way in South San Francisco for Dimerco Express, a global shipping and logistics company. The deal was the largest industrial lease on the San Francisco Peninsula in the second quarter of 2025.

CBRE’s David Black and Marshall Hydorn represented the landlord, Wattis Partners, TIC. The tenant was represented by Blake Miller of Reliance Real Estate Advisors, Inc.

“This significant lease is a testament to the resilience of the Peninsula’s industrial market,” said Black. “The tenant needed additional space to grow from their previous location and be close to the airport. The property’s proximity to key transportation corridors and San Francisco International Airport made 274 Wattis Way an especially compelling choice for the tenant.”

The warehouse property was built in 1960 and is freight designated with multiple dock-high and grade-level loading. The property also includes ample parking, 8,000 square feet of office space, located 1/2 mile from Highway 101 and is an 8-minute drive to SFO.

Industrial leasing activity on the San Francisco Peninsula was concentrated in North San Mateo County in Q2 2025, according to CBRE Research. Almost 80% of deals in the quarter were 10,000 square feet or less.