July 25, 2006 > $9.4 Million Lease in Hayward
$9.4 Million Lease in Hayward
Hayward, July 10_Lee & Associates, the fourth largest full-service commercial brokerage company in the nation, recently completed a six-year industrial lease - with the option of another five years - on behalf of Keeco LLC valued at $9.4 million. The more than 283,000-square-foot lease is the largest distribution lease transaction completed in the East Bay area this year.
Located at 30736 Wiegman Rd., in Hayward, the 283,629-square-foot, single-story, high bay distribution center will enable the San Francisco bedding maker to consolidate two of its nearby warehouses.
Principals of Lee & Associates' new La Jolla, Calif. office, Graham Bryan, CCIM, and David Howard - formerly of Resource Commercial Real Estate Inc.-represented the tenant, Keeco LLC. The landlord, RREEF, was represented by Greig Lagomarsino, Sior, Rob Shannon and Joe Kelly, all of Colliers International.
"The new distribution center provides more space, an open floor plan, and is much more functional and flexible," said Jeff Jacob, executive vice president of sales and marketing at Keeco LLC. "This enables Keeco to better serve its customers by expediting shipping of its products more efficiently."
"There is an increasing demand in this area for industrial and warehouse space because much of it has been absorbed into residential housing," said Bryan. "We searched for three years before we were able to find the right facility for Keeco, and this space fulfilled all of its needs. No doubt the trend will continue, making it harder to find quality industrial space."