CenterPoint Properties has announced the acquisition of 1617 Industrial Parkway West, a 17,676 SF facility in Hayward, California. Located on 2.09 acres, the property is 100 percent leased between two tenants. Andrew Stoddard and Michael Schofield of Lee and Associates represented CenterPoint and the seller in the transaction.
“This acquisition exemplifies our continued focus on low coverage assets in the infill marketplace,” said Greg Pearson, Vice President of Investments. “The coverage combined with Class A features make the building not only hard to replicate, but a great example of CenterPoint’s ability to transact on a smaller deal.”
The facility has immediate access to I-880 and is situated two miles from the San Mateo Bridge. These thoroughfares provide premier access to San Francisco’s population center, with more than 5.6 Million people living within 30 miles of the facility. The site can accommodate up to four daily trips to the Port of Oakland and up to two daily trips to UP/BNSF Intermodal Yards in Tracy/Stockton. Property features include 24’ clear height and 36 trailer parking positions.