CBRE Leases 155,000 SF Class A Industrial Warehouse to Lansum Worldwide
Oakland – December 8, 2022 – CBRE organized the lease for 8380 Pardee Drive in Oakland, CA, a 155,000 sq. ft industrial warehouse, to Lansum Worldwide.
Bob Ferraro and Michael Barry of CBRE’s Industrial and Logistics crew in Oakland, together with Kurt Mrazik from CBRE’s Pittsburgh workplace, represented the sub-landlord. Colliers represented the sub-tenant.
“We’ve been experiencing report excessive exercise within the Oakland/East Bay industrial market the final two years. Macroeconomic situations have slowed exercise barely, however we’re nonetheless experiencing exercise above pre-pandemic ranges. Class An area of this dimension is tough to seek out within the East Bay and with 1.5 million sq. ft. of recent product anticipated to ship subsequent yr, a number of tenants have pre-leased house as availability stays under 5%,” stated Bob Ferraro, Govt Vice President of CBRE.
Inbuilt 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 workplace house. The property is inside a 15-minute drive to the Oakland Worldwide Airport and Port of Oakland.
The Oakland/East Bay industrial market recorded 2.8% emptiness within the third quarter this yr, in response to CBRE. Rents for warehouse and manufacturing remained regular at $1.34 per sq. ft. whereas 4 submarkets – Berkeley, Emeryville, Alameda and Union Metropolis – had vacancies lower than 1%.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 firm headquartered in Dallas, is the world’s largest business actual property providers and funding agency (primarily based on 2021 income). The corporate has greater than 105,000 workers (excluding Turner & Townsend workers) serving purchasers in additional than 100 nations. CBRE serves a various vary of purchasers with an built-in suite of providers, together with amenities, transaction and undertaking administration; property administration; funding administration; appraisal and valuation; property leasing; strategic consulting; property gross sales; mortgage providers and growth providers. Please go to our web site at www.cbre.com.
