CBRE Leases 155,000 SF Class A Industrial Warehouse to Lansum International

CBRE arranged the lease for 8380 Pardee Drive in Oakland, CA, a 155,000 sq. ft industrial warehouse, to Lansum International.

Bob Ferraro and Michael Barry of CBRE’s Industrial and Logistics team in Oakland, along with Kurt Mrazik from CBRE’s Pittsburgh office, represented the sub-landlord. Colliers represented the sub-tenant.

“We’ve been experiencing record high activity in the Oakland/East Bay industrial market the last two years. Macroeconomic conditions have slowed activity slightly, but we are still experiencing activity above pre-pandemic levels. Class A space of this size is hard to find in the East Bay and with 1.5 million sq. ft. of new product expected to deliver next year, several tenants have pre-leased space as availability remains below 5%,” said Bob Ferraro, Executive Vice President of CBRE.

Built in 2012, 8380 Pardee Drive is a Class A warehouse with 30 ft. clear heights, 18 docks, heavy trailer storage yard and 20,000 sq. ft. of office space. The property is within a 15-minute drive to the Oakland International Airport and Port of Oakland.

The Oakland/East Bay industrial market recorded 2.8% vacancy in the third quarter this year, according to CBRE. Rents for warehouse and manufacturing remained steady at $1.34 per sq. ft. while four submarkets – Berkeley, Emeryville, Alameda and Union City – had vacancies less than 1%.