Denver Investment Firm Buys Fully Leased Farallon Industrial and Logistics Center in San Leandro

CBRE arranged the sale of Farallon Industrial and Logistics Center, a 260,989 square foot warehouse in San Leandro, to Sagard.

CBRE’s Chris van Keulen, Bob Ferraro, Michael Barry and Rebecca Perlmutter Finkel represented both the seller and buyer.

“The property’s record sale price is indicative of the limited opportunities of significant size and scale across the industrial space in the East Bay,” said van Keulen, senior vice president at CBRE. “The Farallon Industrial & Logistics Center garnered local, regional and national buyer attention due to a multitude of irreplaceable property features, such as secured dock loading, a recent power upgrade and an adjacent parking lot for containers or future employee parking. All of these combined are hard to find in today’s industrial supply. Its size and scale for San Leandro, on top being a stabilized multi-tenant asset, made it a very attractive opportunity.”

Located at 2009-2013 Farallon Drive, Farallon Industrial and Logistics Center was built in 1971 on 10.83 acres with an adjacent 1.43 acres used for truck parking. It is also fully leased between two tenants in the beverage and energy tech industries.

Barry, executive vice president, said, “The Farallon Industrial and Logistics Center is the latest example of continued demand from a traditional warehouse and logistics user, while attracting new users from the tech sector that repurpose the space for their testing and manufacturing operations. This ultimately helps to advance the industrial market in Alameda County.”

According to CBRE Research, the deal is the largest industrial sale in San Leandro in the last five years. Industrial leasing activity surged in the Oakland market in the third quarter this year, dominated by several large leases over 100,000 square feet, with three exceeding 200,000 square feet.