Lee & Associates Negotiates 15-Year Warehouse Lease in Oakland for $19.1 Million

May 8, 2012

by The Hoyt Organization

Torrance, CA – May 8, 2012 – (RealEstateRama) — In one of the largest lease deals in Alameda County this year, Drew Fischer and Craig Hagglund of Lee & Associates Oakland have negotiated a $19.1 million, 15-year lease for Deans Services Inc. of Oakland.

Hagglund, who along with Fischer, represented Deans Services and the landlord, 860 81st Avenue Associates, LLC, said the tenant plans to relocate from its current San Francisco location into the former 125,000-square-foot Alameda Chemical Warehouse after renovations, which include a 50,000-square-foot freezer and cooler space, are completed. The industrial warehouse, which was purchased by local investors in late 2011, is located at 860 81st Ave. in Oakland.

“The facility was one of the largest freestanding warehouse buildings available in the Oakland Market and the transaction with Deans Services, Inc. represents one of the largest warehouse lease transactions in Alameda County this year,” said Hagglund. “In addition, this transaction represents a growing trend of development on existing older properties and re-positioning them to accommodate modern industrial real estate requirements.”

Deans Services Inc., a family-owned business that has been in the Bay Area since the 1970s, operates one of the largest refrigerated warehouses in the Bay Area with three million cubic feet of capacity for frozen, chilled and dry goods.

About Lee & Associates
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.