Lee & Associates Closes Over $7 Million Warehouse Sale in Hayward
Torrance, CA – June 12, 2012 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate brokerage firms in the country, has closed the sale, valued at more than $7 million, of a warehouse in Hayward, Calif.
The buyer, Win Woo Trading, a wholesale grocer company, was represented by Jesse Lucas and Ryan Martens of Lee & Associates Oakland. The seller, Welcome Markets, was represented by CTBT.
“Prices are definitely trending upward, specifically in the owner/user building sale market,” said Lucas. “The market is tightening as demand has increased and fewer options are available. Users on the 880 Corridor that want to own their buildings are now going to be forced to accept higher prices per square foot.”
Located at 31056 Genstar Road, the property was once a former Ranch 99 warehouse and one of the largest freestanding warehouse buildings available for purchase in the Hayward market. Win Woo plans to expand into the 108,000-square-foot property in addition to occupying their current 25,000-square-foot facility. The new building has existing freezer and cooler space on the property which helps to accommodate Win Woo’s growing needs and clientele.
According to Lucas, the transaction with Win Woo Trading represents one of the largest owner/user warehouse sale transactions in Alameda County this year.
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, Illinois, Indiana, 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.
