Shea Properties' Shea Center Hayward will mark the company's first step into industrial development in the Bay Area.
The company recently purchased 14.2 acres in Hayward for $8M from Eden Shores Associates I. Though Shea didn't comment on the land's price, the company plans to start a new spec industrial project in Hayward, where the market remains very tight for manufacturing and light industrial, according to The Registry.
Shea Center Hayward will have a roughly 275k SF Class-A, four-building industrial campus for light manufacturing, industrial or warehouse uses. Buildings will range from 32k SF to 115k SF. Shea Properties expects to start construction in summer 2016.
The buyer and seller were repped by the Oakland office of Colliers International. [TR]
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