Harsch's Bay Area regional manager Nancy Gille tells GlobeSt.comthat the parks are well leased due to their range of building typesand proximity to the Port of Oakland, San Mateo Bridge andInterstate 880. Given the movement in rents the past few years, theupside in this investment will come in the form of increased rentsas leases roll, Gille says."These are core assets," she says. "Arising tide raises all ships; we expect to ride the tide ofimproving conditions in the region."

The larger of the two is Dowe Business Park, a 10-building parkat the northwest corner of Alvarado Niles Road and Dowe Avenue inUnion City. Built in the latter half of the 1980s, it totals353,763 sf (net rentable). The buildings range in size from 16,274sf to 53,199 sf and are built out for office/flex, R&D andlight industrial uses.

The property was 89% leased to 37 tenants at the time of sale.Tenants include Federal Express, NEC Tokin, Coinmach Service, PentaBiotech, Macusight, Bexel Pharmaceuticals and Fidelity NationalTitle.