Starboard Closes East Bay Industrial Condominium Sale
- Dec 06, 2017
Starboard TCN Worldwide has sold two industrial condominium units totaling 8,700 square feet in Hayward, Calif. The sale comes after the industrial company‘s newest board of directors appointment.
Starboard marketed the property on behalf of seller Adamson Police Products, following the firms move to a larger space in Livermore two years earlier. The new owner, Devar Enterprises LLC, is a private investor who will not occupy the space. According to Alameda County public records, the property sold for just under $2 million, at approximately $225 per square foot.
Located at 3286-3290 Arden Road, the property is within two miles of both Interstate 880 and California Route 92, offering accessibility to San Francisco and the wider Bay Area market. The two units contain warehouse, showroom and office space and are part of a larger development which is primarily occupied by small, independent businesses. The property is located within a half mile of a large Fedex Ground freight terminal which opened earlier this year.
“We found this market to be rich with both buyer and cooperative broker interest. We exceeded market expectations in closing this deal with an unexpectedly high sale price,” said Jane Woolley, director of retail leasing and sales with Starboard, in prepared remarks.
Starboard’s Jane Woolley represented the seller in the transaction.
Image courtesy of Starboard TCN Worldwide