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CBRE Pre-Leases New Oakland Industrial Facility

CBRE Pre-Leases New Oakland Industrial Facility

Prologis Park, the newly constructed 58,500-square-foot industrial building in Oakland, CA has been pre-leased to national tire distributor TireHub. TireHub was cofounded by Goodyear and Bridgestone, and currently has facilities in Benicia and Hayward, CA.

“New industrial space in Oakland’s main throughway is extremely rare and location is a huge value-add for TireHub as they looked to expand in the East Bay,” said CBRE’s Chris van Keulen who represented the tire company.

Oakland has one of the lowest industrial vacancies in the U.S. at 2.3%. “With fewer new developments and limited industrial availability in the East Bay, we’re seeing more pre-leasing activity, a sign of strong demand in an already competitive market,” said CBRE’s Kevin Hatcher, who represented Prologis in the deal. “Prologis designed a unique, small logistics building that supports the business needs of TireHub with access to all nine Bay Area counties, within a one-hour drive time.”

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Inside The Story

CBREChris van KeulenKevin Hatcher

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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