Last spring, ProLogis leased half of its nearly 300,000-square-foot warehouse in Hayward to Tesla and has now leased the other half to an auto parts distributor.
Currently Oakland-based National Auto Parts NorCal signed a lease for nearly 150,000 square feet at 22290 Hathaway Avenue, According to the San Francisco Business Times, Citing unidentified sources.
Financial terms of the 10-year lease with the San Francisco REIT were not disclosed.
In April, GLP leased 148,500 square feet of the building to electric car maker Tesla for an undisclosed lease.
Prologis acquired the building one block east of Interstate 880 in 2018, Part of its $8.5 billion acquisition of DCT Industrial Trustwhich purchased the property in 2015 for $16.6 million.
According to a brochure reviewed by The Business Times, the building is being sold for warehouse use. The reporter failed to contact the National Automobile Configuration for comment.
The auto parts dealership is about to relocate from its current location at 6201 Coliseum Way in Oakland, The Business Times reported.
National Auto was represented by brokers Tom Damaschino of KBC Advisors and Brian Collins of Collins Commercial Real Estate. Prologis was represented by Sam Higgins of KBC Advisors and Jeff Starkovich of Cushman & Wakefield.
Last spring, the East Bay saw some major industrial leases, including Tesla’s lease of more than 200,000 square feet in Fremont and Rivian’s 60,000-square-foot lease nearby.
But the market, which was “hot” at the start of the outbreak, has begun to cool, according to The Business Times.
Hayward’s 25 million-square-foot industrial market had an industrial vacancy rate of 6.9% in the first quarter, according to JLL.That could climb as EV maker Rivian exits 350,000 square feet of industrial space Available for sublet at 25500 Clawiter Road.
— Dana Bartholomew
