OAKLAND, CA-In a set of transactions that highlights the appealof fully leased industrial buldings to investors, San Diego-basedLBA Realty has closed on four industrial salestotaling more than one million square feet. The sales occurredin Hayward, Lathrop, Tracy and San Jose, all in northernCalifornia.

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The sales took place in two distinct markets of NorthernCalifornia: the highly urbanized 880 Corridor, which includesOakland and San Jose, and the more suburban/exurban San JoaquinValley, the location of Tracy and Lathrop.

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Mihael Goldstein of ColliersInternatinal, who worked on two of the sales, says therelationship of the San Joaquin Valley to the Bay Area is similarto the relationship of the Inland Empire to Los Angelesand Orange counties.

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“The Valley has logistics-based users, rail connections, and atransportation network,” he says. “Here you can find big boxbuildings that you can’t find on the 880 corridor,” he adds. “Theland economics don’t permit it.”

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The largest of the deals was the 517,458-square foot warehousewith 38 acres of land in the Stonebridge IndustrialPark in Tracy, CA. The seller was OSH PropertiesLLC, which currently occupies the property on along-term lease.

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By itself, the Stonebridge sale was one of all warehouse/distribution sales in the Bay Area this year,according to Colliers International. Goldstein and GregoryO’Leary of Collier's Stockton office,plus Greig Lagomarsino of the firm’s Oaklandoffice all represented the buyer.

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The next largest sale was in Lathrop, where LBA bought 401/501 Nestle Way, a 271,040-square-footclass A warehouse/manufacturing facility in the CrossroadsCommerce Center. The building is currently leased toAMCOR PET Packaging. Goldstein and GregoryO’Leary of Colliers’ Stockton office handled thetransaction.

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Another LBA purchase was 214,172-square-foot 2425Whipple Rd. in Hayward, CA. he property sits on nearly 12acres of land with another four acres of adjacent land that couldbe developed. Morgan Technical Ceramics currentlyleases the property on a long-term basis. Lagomarsino andMark Maguire of Colliers International’s Oaklandoffice represented the buyer while Greg Cioth andEdmund Najera of Eastdil Securedrepresented the seller.

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The smallest of the sales was 905 McLaughlinAve. in San Jose 79,911 square feet ofwarehouse/distribution space situated on 3.75 acres of land. Thebuilding is currently leased to two tenants, GalleherCorp., a maker and distributor of floor coverings, andIron Mountain, an information management servicesprovider.

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Lagomarsino represented the buyer whileChip Sutherland of CB RichardEllis repped the seller, Lowenberg Corp.of San Francisco.

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