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HAYWARD, CA-The 460,000-sf Wiegman Distribution Center here, vacated by Good Guys several months ago, has been backfilled with two tenants. San Francisco-based Keeco LLC has leased 284,000 sf and Eagle Global Logistics has leased the remaining 176,000 sf.

Built for Good Guys in 1993, the facility at 30750 Wiegman Rd. served as the West Coast distribution for Good Guys until it closed all 46 of its stores in December. Since that time, Colliers has been marketing the property on behalf of the building owner, Rreef. The Colliers team included Greig Lagomarsino, Rob Shannon and Joe Kelly.

Wiegman Distribution Center is one of the assets Rreef acquired when it purchased Equity Office Properties’ entire 5.6 million-sf Bay Area industrial portfolio for $415 million in September 2004. The facility was developed in two phases between 1989 and 1994. Ceiling heights range from 28- to 32 feet.

Keeco, a designer, marketer and distributor of quilts, pillow cases, shams and bed linens, signed a six-year lease valued at $9.4 million. EGL, a third-party logistics provider, signed a 62-month lease valued at $4.6 million. The values translate to a monthly triple-net lease rate in the low-to-mid $0.40s per sf. Graham Bryan, and David Howard of Lee & Assoc. represented Keeco.

“There’s been a tremendous amount of momentum in the Hayward market, with very little available product like this,” says Lagomarsino, an SVP in Colliers International’s Oakland office. “Larger class A distribution facilities, like this one, are difficult to find right now. So while typically buildings like this can sit on the market 12 to 18 months, we were able to re-tenant Wiegman Distribution Center with two tenants in only six months.”

Lagomarsino adds that the transaction points to the continued expansion of local companies as well as the continued migration of companies moving from the San Francisco peninsula to the East Bay. “Hayward is still the bull’s-eye for distribution facilities in the Bay Area, with large companies continuing to choose the city as the site of their regional headquarters. As a result of the size of these transactions and others in the works, the vacancy rate in Hayward is definitely headed lower.”

Over at Rreef’s Hayward Business Park, Lagomarsino brokered a $2.5 million lease to the Gene Schick Co., the exclusive wholesale distributor for Viking Range Corp. products for the Northern California, Western Nevada and Hawaii market. GSC signed a 54,000-sf 87-month lease with Rreef for a facility located at 30826 Santana St. in Hayward. Relocating from another Rreef-owned property in Hayward, the company will use the new facility as the site of its headquarters and state-of-the-art showroom

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