warehouse sale - loopnet · warehouse sale 488 hester st offering memorandum san leandro, ca 94577....

WA R E H O U S E S A L E4 8 8 H E S T E R S T

O F F E R I N G M E M O R A N D U M

S A N L E A N D R O , C A 9 4 5 7 7

N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E

C O N F I D E N T I A L I T Y & D I S C L A I M E RThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus

& Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared

to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained

herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect

to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements,

the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon,

or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained

in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information

contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy

or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service

mark of Marcus & Millichap Real Estate Investment Services, Inc.

© 2018 Marcus & Millichap. All rights reserved.

N O N - E N D O R S E M E N T N O T I C EMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's

logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or

any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to

prospective customers. Activity ID: XXXXXX

A L L P R O P E R T Y S H O W I N G S A R E B Y A P P O I N T M E N T O N L Y.P L E A S E C O N S U L T Y O U R M A R C U S & M I L L I C H A P A G E N T F O R M O R E D E T A I L S .

OFFICES THROUGHOUT THE U.S. AND CANADAwww.marcusmillichap.com

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I N V E S T M E N T O V E R V I E WS E C T I O N 1 O ffer ing Summar y • Proper t y Detai lsOperat ing Statement • Rent Rol l • Regional MapAer ia l M ap • Proper t y Photos • Acquis i t ion Financing

M A R K E T I N G O V E R V I E WS E C T I O N 2 M arket Analys is • Demographic Analys is

TABLE OF CONTENTS

Investment Overview

o f f e r i n g s u m m a r y

s u m m a r y o f t e r m s

i n v e s t m e n t o v e r v i e w

i n v e s t m e n t h i g h l i g h t s

s e c t i o n 1

I N V E S T M E N T H I G H L I G H T S

The Ida Group of Marcus & Millichap is pleased to present the opportunity to acquire 488 Hester St, a 20,000 square foot industrial asset located in San Leandro California. 488 Hester is situated in the main Bay Area industrial corridor along the 880 Freeway allowing easy access to San Francisco, San Jose, East Bay and Central Valley marketplaces. In

addition to being directly next to the 880 corridor, 488 Hester is one mile from Oakland International Airport and less than ten miles from the port of Oakland. A new user or investor will benefit by being next to the nations fifth largest

port offering irreplacable value for industrial product.

The offering provides a fantaastic opportuntiy for an owner/user looking to occupy space in the East Bay or an Investor looking to reposition the asset for a new tenant.

Industrial Warehouse Opportunity

4 8 8 H E S T E R S T

20,160 SF of warehouse situated on 34,000 SF lot

16 foot clear heights

72 foot spacing between walls allows large warehousing space

Immediate access to highway 880

Situated in the main industrial corridor of the Bay Area

2 ton crane spans the main warehouse

E X E C U T I V E S U M M A R Y6

PROPERT Y DESCRIPTION // 488 HESTER ST

Total Building SF 20,160Total Lot SF 34,000Lot Acerage .78Year Built 1960Type of Ownership Fee SimpleClear Height 16’Roll Up Doors 3Sprinklers NoConstruction MetalZoning IndustrialSubmarket 880 Corridor

488 HESTER ST, SAN LEANDRO, CA

P R O P E R T Y D E S C R I P T I O N 7

OFFERING HIGHLIGHTS // 488 HESTER ST

Offering Price $3,000,000

Price/SF $148

Price/Land SF $98

Total Square Feet 20,160

Lot Square Feet 30,400

488 HESTER STSAN LEANDRO, CA 94577


OFFERING PRICE

$3 ,000,000


E X E C U T I V E S U M M A R Y 9

P R O P E R T Y D E S C R I P T I O N10

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P R O P E R T Y D E S C R I P T I O N 11

S P E C I A L C O V I D - 1 9 N O T I C E

C O N F I D E N T I A L I T Y & D I S C L A I M E RAll potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions

as they may deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not

been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing

investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as

lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory,

financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial

statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their

own projections, analyses, and decision-making.)

OFFICES THROUGHOUT THE U.S. AND CANADAwww.marcusmillichap.com

Market Overview

l o c a t i o n o v e r v i e w

m a r k e t r e s e a r c h

d e m o g r a p h i c s

s e c t i o n 2

SAN LEANDROC A L I F O R N I A

P O P U L A T I O N8 8 , 3 2 9

M A R K E T O V E R V I E W14

The City of San Leandro is one of the most diverse cities in the nation located at the center of the dynamic San Francisco Bay Area. With a vibrant community of more than 89,000 residents, San Leandro is proud of its well-maintained neighborhoods, excellent public libraries, twenty-one public parks, quality local schools, and a wide range of shopping, dining, and entertainment options. The City also encompasses a large industrial area that is home to a thriving advanced manufacturing industry.

Discovered in 1772 by a Spanish explorer, San Leandro became famous during the late 1800s and early 1900s for its delicious cherries. In 1909, to celebrate the abundant cherry harvest, San Leandro held its first Cherry Festival. The event was so successful it is a continued celebration today, becoming an annual event each year in June.

San Leandro is also well-known for its quiet, well-defined neighborhoods full of charming and unique older houses on tree-lined streets where residents are proud of both their neighborhoods and their City. This is reflected by their active involvement in the City’s numerous neighborhood and homeowner’s associations. The ideal temperate makes San Leandro an excellent place for outdoor recreation. San Leandro boasts of its 450-berth Marina and two golf courses, and with an average temperature of 62 degrees and average rainfall of 19 inches per year, outdoor activity is possible all year.

C i t y O fS A N L E A N D R O

The M iddle of the 880 Corr idorSan Leandro sits in the middle of the largest corridor of industrial in the Bay Area known as the 880 Corridor. Bolstered by the proximity to the port of Oakland and Oakland international Airport, the 880 Corridor is one of the main thuroughfairs bringing goods into and out of Northern California. San Leandro sits perfectly positioned in the middle of the East Bay along the interstate 880, affording its tenants ease of access to the port and other transportation lines out of the Bay Area.

M anufac tur ing & TechnologySan Leandro has a long history being the home to many corporate businesses in the manufacturing space including: JanSport, The North Face, Ghiradelli, OSlSoft & Coca-Cola. Under recent administration San Leandro has made a big push to position itself as a technological hub as well. Drawing on historically low vacancies in the Silicon Valley markets, San Leandro has been able to attract a number of high tech manufacturing and R&D tenants. San Leandro recently put in a fiber optic network through 18 miles of the city allowing businesses to tap into 10Gbit/s.

M A R K E T O V E R V I E W 15

Multiple factors uphold tenant demand. Serving as the Bay Area’s largest industrial market,Oakland-East Bay enters a period of economic turbulence in a place of relative strength. Buoyed by a diversifified economy, unemployment rested below 3 percent entering this year, with industrial vacancy 280 basis points below the pre-Great Recession rate. Prior to the COVID-19 driven downturn, the East Bay’s growing populace of tech-savvy residents was shopping online with increased frequency. With a shelter-in-place order enacted and nonessential businesses closed, digital commerce should rise in the coming months, maintaining demand for warehouses and last-mile distribution outposts. Additionally, cargo activity at Oakland’s port and airport should sustain demand for logistics space, with R & D and flflex properties near San Jose and the Silicon Valley appealing to tech and healthcare organizations seeking discounted rents. While tenant demand should hold, 2 million square feet of speculative space was fifinalized during the fifirst quarter, with an additional 3.4 million square feet underway and slated for 2020 delivery. This wave of additions is likely to liftvacancy while prospective tenants avoid leasing new floor plans in the short term.

Strong Fundamenals Bolster I ndustr ia l

Industr ia l Report / / East Bay Metro Area


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DEMO GRAPHICS // San Leandro

88,329 To t a l P o p u l a t i o n F o r t h e C i t y

$62,761Median Household Income

$585,400Average Home Value

31,334 To t a l H o u s i n g U n i t s

.04%Previous Census

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*According to U.S Census Bureau, 2011-2015. Last updated April 2017


Cole Ferrar iSan Francisco

(415) [email protected]

License: CA 02093715

Aidan BrorsenSan Francisco

(415) [email protected]


Jef f rey IdaFirst Vice President

San FranciscoDirect: (415) 625-2196 // Cell: (415) 828-7679

[email protected]: CA 01826381

Brendan G al lagherSan Francisco

(415) 625-2110 [email protected]


E X C L U S I V E L Y L I S T E D B Y

warehouse sale - loopnet · warehouse sale 488 hester st offering memorandum san leandro, ca 94577....

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