CenterPoint Properties Expands Bay Area Industrial Footprint With Hayward Acquisition
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CenterPoint Properties acquired a 195K SF industrial site at 25858 Clawiter Road in Hayward. The 9.5-acre site includes three buildings and excess yard capacity. Clawiter Associates sold the property after owning it for over 50 years. The property is 100% leased to Goodyear Tires and The Companion Group, a manufacturer of outdoor cooking products.
Its location allows for three to four daily trips to the Port of Oakland, where CenterPoint also is developing a 440K SF distribution center, and one to two daily trips to intermodal railyards in Tracy and Stockton.
CenterPoint plans to reposition the asset to capture the growing demand for port and e-commerce logistics facilities.
“With the ongoing reduction of supply of industrial product along the San Francisco Peninsula, CenterPoint believes this site will remain in high demand for both East Bay users and Peninsula users looking to relocate,” CenterPoint Senior Vice President of Investments Ryan Dunlap said.
The asset is less than two miles from Interstate 880 and sits on the first exit from the San Mateo Bridge on State Route 92. In addition, the asset is rail-served and is less than two miles from a recently completed FedEx Ground catchment center.
Cushman & Wakefield Managing Director Kate Woodcox represented the buyer. The Sutherland Co. partner Richard Sutherland represented the seller.
CORRECTION, DEC. 22, 10:54 A.M. PT: The original article incorrectly stated Cushman & Wakefield's role in the transaction. The article has been updated.