15months ago

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Located on the west side of Hwy. I-880, immediately north ofMarina Boulevard, the complex has two main buildings, 2010 and 2020Williams Street. One of the buildings is a 186,000 sf manufacturingand warehouse building with 19-pneumatic-fed silos oriented forcompanies with process and assembly line needs. The other buildingis a 278,727 warehouse with 20,000 sf of office space. Theacquisition also included a separate 3.6-acre industrial-zoned landparcel connected to the rest of the property by a pedestrianbridge.

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The improvement program included new mechanical, electrical andplumbing systems, seismic and structural upgrades, improved loadingfacilities, enhanced landscaping, building facades and interiors.As part of the process, Broadreach razed 24,160 sf of existingstructures to make room for a new main entrance and truckcourt.

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Kellogg's owned and operated the San Leandro facility for theproduction of Frosted Flakes cereal and Pop Tarts. The plant wasshuttered in 1995 and sold to a private investor two years later.Broadreach acquired the asset largely vacant.

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At the time of Broadreach's acquisition, the City of SanLeandro's Business Development Manager Luke Sims called the formerKellogg facility one of the city's most prominent and visibleindustrial properties. Its reuse "likely will act as a catalyst forother industrial redevelopment in and around San Leandro," hesaid.

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One of the leasing brokers, Michael Karp of NAI BT Commercial,says "clean-tech" companies, as well as local food-processing andbeverage concerns, and sustainable building products manufacturerscan effectively re-use the systems once used to manufacturebreakfast cereal. Tenants also may benefit from access to raillines and proximity to both the Port of Oakland and OaklandInternational Airport, he says.

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Current tenants include Meto Poly Co., a wholesaler of plasticand poly bag products and Zim Diversified, a warehouse storageprovider. The two tenants collectively occupy 137,000 sf. Theasking lease rate for the remaining space is $0.60 per sf per monthfor the 186,000-sf building, which is currently empty, an $0.50 forthe larger building, which has 54,00 sf of availability.

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