Joint venture partners, Conor Commercial Real Estate, a member of The McShane Companies, and American Realty Advisors, a provider of commercial real estate investment management services for institutional investors, are pleased to announce the sale of Hayward 92 Industrial Center, a LEED-Certified fully-automated industrial facility 100% leased to a Fortune 50 company in Hayward, California.
Hayward 92 Industrial Center was sold to an international institutional asset management company for an East Bay record-breaking $395 per square foot.
The infill industrial facility, located on 31.5 acres, was completed in late 2017 and boasts modern building features and fully improved land dedicated to truck, trailer and employee parking. The 236,976-square-foot distribution center features 32′ clear height, 61 dock-high doors, 5,340 square feet of office and a 1,500-square-foot security building to regulate site access. The building interior is fully-automated and features a sophisticated conveyer system to enhance productivity and facilitate efficient operations.
“This sale represents the culmination of the second in a series of strategic, market leading infill industrial developments in the Bay Area by the Conor/ARA partnership,” remarked John Dobrott, President – Industrial. “We were thrilled to work with American Realty Advisors on another project that has created jobs and improved the industrial – distribution landscape in the East Bay.”
”The success of this project, from entitlement through construction, lease-up and now disposition, is a testament to the partnership between Conor and American. Conor has been a tremendous partner for American and we look forward to future projects. This was a great opportunity to create value for our clients while creating significant economic impact for the local economy – through the creation of hundreds of union construction jobs and long term employment within this state-of-the-art distribution facility,” said Albert Pura, Senior Director within American’s Investment Group.
McShane Construction Company and Ware Malcomb Architects served as the design/build team for the construction of the build-to-suit project. Jeff Starkovich and Jay Hagglund of Cushman & Wakefield represented the Conor/ARA partnership in the project leasing, and Jeff Chiate and George Eckard, also of Cushman & Wakefield, led the marketing of the project sale.