(To read more on the industrial market, click here.)

SAN FRANCISCO-Dividend Capital Trust of Denver has selected Colliers International to manage its newly acquired 1.5 million-sf portfolio of warehouse buildings in Northern California. The estimated $100-million portfolio includes 20 buildings in the cities of Concord, Brisbane, Livermore, San Jose, Fairfield and Newark.

The win is the largest single bulk assignment in the history of firm. The assignment takes to 11.4 million sf the amount of space Colliers’ Northern California division has under management.

The portfolio was acquired earlier this month as part of multi-market portfolio purchase from a joint venture of TIAA-CREF and Rreef. Dividend Capital paid $500.7 million (including the acquisition fee paid to its advisor) for 7.9 million sf in 79 bulk distribution, light industrial and service center buildings in Atlanta, Baltimore, Charlotte, Cincinnati, Dallas, Miami, Orlando and San Francisco. Twenty three of the buildings were in the San Francisco Bay Area, including 2850 Cordelia Rd. in Fairfield, CA (pictured above).

Michael Strle, managing partner of Colliers’ Northern California property management division, says the portfolio had multiple property managers and Dividend Capital consolidated the work. Susan Causey will coordinate the transition and be the senior executive in charge of the client and properties. The property management team will be located in Colliers International’s San Mateo office, and will perform all of the day-to-day responsibilities of working with Dividend Capital and its tenants.

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