October 5, 2016
Reno, NV-based Dermody Properties completed the acquisition of a 130,000-square-foot industrial asset in Hayward, CA for $14.1 million. The property, which was held by private investor Patrick Tai, will be renamed LogistiCenterSM at Huntwood.
Dermody Properties plans to renovate the property, and expects it will be available for lease in mid-2017. Currently, Wohler Technologies, Inc., occupies 20% of the property.
Newmark Cornish & Carey’s Steve Kapp and Curtis Stahle represented both seller and buyer in the transaction.
Kapp notes it was a timely acquisition for Dermody Properties. “Currently, just four properties offer space of comparable size available for lease in the I-880 corridor market from San Leandro to Fremont,” he said.
For comments, questions or concerns, please contact Dennis Kaiser