Granny Goose Site has Buyer

Sunrise Specialty Co., a maker of bathtubs and other Victorian-style plumbing fixtures, isin escrow to pay $6.5 million for 192,000-sf of buildings that make up the former Granny Goose manufacturing facility.

Bob Weinstein, president and chief executive officer of Sunrise, says he has been looking for months for an alternative to the company’s cramped, 21,000-sf quarters in Emeryville. “We had bathtubs stacked everywhere,” said Weinstein, who plans to have switched the company’s entire operation to the eight-acre site on 98th Street site by October.

Weinstein says finding the right space was a tricky task, as very few suitable properties are currently available in the Oakland industrial market. Looking for 60,000 sf initially, the Granny Goose plant seemed too large a facility at first blush, Weinstein said.

Upon reflection, however, Weinstein says he warmed up to the property and what it could ensure for the future of his seemingly ever-expanding company. “I don’t want to be going through this again in eight to 10 years,” he said of the hassle of finding expansion property.

Sunrise plans to use 40,000 square feet of the plants overall space for bathtub production. Another 15,000 square feet on the grounds will serve showroom and administration needs. As for the excess space, Weinstein say he plans to sublease 80,000 sf of warehouse space.

Sunrise officials plan to close escrow on the purchase of the Granny Goose plant within the next 60 days. The company plans to sells its current home and roll the profits, which should be substantial, into its new plant. Sunrise bought its Emeryville property for $39/sf, and will sell it for closer to $100/sf.