400,000-SF Industrial Project Hits 100% Occupancy

OAKLAND, CA-The 400,000-square-foot Edgewater Industrial Center has reached 100% occupancy with the signing of three new leases totaling more than 300,000 square feet, reflecting what Colliers International says is a recovering and growing industrial market here. Greig Lagomarsino, a member of a team from Colliers International’s Oakland office that represented landlord AMB Property in the three leases, says they are "a testament to the industrial market’s recovery.” Lagomarsino adds, “We’re hearing more of companies that foresee business growth and require larger spaces to expand into." The three tenants who signed the leases were One Source Distributors Holdings Inc., Exel Inc. and One Workplace.

One Source, a distributor of electrical, utility and industrial automation products, has outgrown its current facility in Union City and expanded into 100,800 square feet at the Edgewater project. The company is based in Oceanside, CA and the new facility will serve as its regional warehouse and distribution facility for Northern California. The space was on the market for less than two months, the Colliers team notes.

Exel, a transportation logistics company, will be moving into what was the largest available space at the business park. Exel outgrew its previous location and sought a larger warehouse to expand into near the Port of Oakland and Oakland International Airport. It will be occupying