PLEASANTON, CA-Two Northern California companies each have purchased buildings at National Corporate Center, a new industrial center in Livermore by Pacific Union Commercial Development. The combine sales price was about $3 million.

Vintage 99 Label, a manufacturer of pressure-sensitive wine labels bought a 10,073-sf building located at 611 Enterprise Court, which it plans to use it for manufacturing and its headquarters. In addition, Tri-Valley Doors bought a 12,054-sf building, located at 610 Pinnacle Place, which it will use it for distribution and corporate offices to be relocated from Tracy.

Both of these buildings are located in the National Corporate Center, a 15-building development along I-580 on National Drive at Greenville Road. The current asking prices for the center’s buildings are approximately $115 per sf, or roughly $1.2 million for an 11,000-sf building.

“Companies and individuals are taking advantage of the historically low interest rates that have lowered the cost of ownership dramatically to purchase buildings in the path of growth,” said Dan Bergen of Colliers International. “Coming off the boom in rents throughout the late 1990s, users want to own and not be exposed to the next wave of rent increases that is inevitable.”

Bergen and Mike Lloyd, also of Colliers, represented the seller, Pacific Union Commercial Development, and the buyers, in both transactions.

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