Berkeley Partners Pays $21M for Bay Area Warehouses
- Dec 09, 2020
The Roxborough Group announced it has sold a three-property industrial complex in Hayward, Calif. for $20.8 million to Berkeley Partners.
The facilities encompass a total of 102,122 square feet and previously changed hands in 2017, when Hermco Inc. sold them for $11.8 million, according to Alameda County records. Wells Fargo originated a $7.1 million acquisition loan for The Roxborough Group at the time.
Located on 6 acres at 3340-3450 Arden Road, the single-story warehouses were built between 1979 and 1985. At the time of the deal, the buildings had an occupancy rate of 87 percent. The tenant roster includes Applied Photon Technology and Mission Tool & Manufacturing Co. The property is within 2 miles of Interstate 880 and State Route 92, which connects Hayward to San Mateo. San Francisco International Airport is 19 miles west of the site.
The Colliers International brokerage team that negotiated on behalf of both parties included Executive Vice President Greig Lagomarsino and Senior Vice President Nick Ousman.
In September, Berkeley Partners received a $31.9 million loan for a fully leased, 411,485-square-foot warehouse in Louisville, Colo. Nuveen Real Estate provided the non-recourse, fixed-rate loan which matures in 2027.