Goodrick Logistics CenterGoodrick Logistics Center consists of e-commerce/distributionfacilities at 2589 and 2593 Goodrick Ave.

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RICHMOND, CA—Although the health crisis and economic slowdownare devastating in many ways, there are silver linings popping upwithin the turmoil throughout the commercial real estate industry.In Dermody Properties' recent acquisition of Goodrick LogisticsCenter, this silver lining takes the form of value along with ane-commerce function, says George Condon, West Region partner forDermody Properties.

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"The planned projects near our new buildings will take longerthan expected to entitle and construct, making the available spacein our new building more valuable than we anticipated," Condontells GlobeSt.com.

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The logistics center consists of two class-A e-commerce anddistribution facilities at 2589 and 2593 Goodrick Ave. 2589Goodrick is currently available for lease and can accommodate oneor three tenants ranging from 15,000 to 57,872 square feet. 2593Goodrick is fully leased to an international mattressdistributor.

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"These buildings were developed to the highest institutionalstandards and in a location that offers access to the East Bay andthe North Bay," said Condon. "The available space is ideal formultiple users including regional and last-mile e-commercedistribution, retail, consumer products and durables, andmanufacturers."

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2589 Goodrick Avenue was built in 2018 and is the only availablenewly constructed building smaller than 200,000 square feet in theEast Bay. The building features a 24-foot clear height, 10 drive-indoors, 75- by 65-foot column spacing, LED warehouse lighting and anESFR fire protection system.

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The property is within 15 miles of the Port of Oakland, withimmediate proximity to Richmond Parkway, Interstate 80 andInterstate 580.

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"This availability at 2589 Goodrick Avenue offers a rareopportunity in this highly sought-after industrial market," saidShelagh Danna, vice president at Dermody Properties. "Its strategicand central location in the core of the Bay Area will be asignificant advantage for companies in a broad range of establishedand emerging industries."

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Corporate neighbors of Goodrick Logistics Center include UPS,Whole Foods, Chevron, Safeway, Conoco Phillips and CostcoWholesale.

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Mark Detmer, Bo Mills and Ryan Sitov, all of JLL, representedDermody Properties in the sale. Jason Ovadia, Patrick Metzger,Eddie Shuai and Mike Murray, also of JLL, will be the leasingagents for the property.

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In the first quarter, the Oakland I-80/I-880 Corridor'sindustrial market experienced another strong stretch as netabsorption posted 1 million square feet and gross absorption wasnearly 2.4 million square feet, according to a ColliersInternational report. The vacancy increased slightly from 2.9% to3% as 1.17 million square feet of industrial buildings werecompleted in the first quarter. Overall asking rents in the quarterincreased by $0.03 to $1.00 per square foot per month triplenet.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.