CenterPoint Buys Yet Another Industrial Property In East Bay
CenterPoint Properties purchased a 190K SF industrial building in Hayward, California, for $52.8M.
Life Chiropractic College West sold the property at 24801 Industrial Blvd. in a transaction closed on July 15, according to the San Francisco Business Times.
The property was acquired via a sale-leaseback transaction according to documents from the Alameda County Clerk and Recorder’s office.
The transaction is the latest CenterPoint has made in the East Bay. The company last year acquired a 208K SF industrial building in Fremont, California. The company also acquired a 45K SF industrial property in Hayward in November of last year, according to the San Francisco Business Times.
CenterPoint said late last year that it wanted to invest $100M in industrial assets in the Bay Area in 2022 in each quarter, according to a press release from the company.
CBRE’s recent Q2 market report on the Oakland industrial market noted the strong industrial vacancy in the East Bay so far, with Hayward carrying a 1.6% vacancy rate.