Doug Norton, Duane Fitch and Michael Walker of CB Richard Ellis represented Dependable Logistics Services. Rick Keely of Colliers International represented Good Guys.
Norton tells GlobeSt.com that there were a couple of tenants eyeing the sublease offer because the building has cross loading, 28-foot clear height, plenty of parking and was located close to I-880. "Hayward industrially wasn't hit as hard as the Silicon Valley or the San Francisco Peninsula," adds Norton, estimating current vacancy in East Bay industrial at about 10%.
Colliers year-end 2002 report found vacancy in the East Bay warehouse segment at 9.1%, up from 8.9% the year prior. Warehouse rents, meantime, declined by about 10% for the year to $0.41 NNN per sf per month, in part due to a large number of sublease offerings and weak demand for space.
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