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6/21/19
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The Companion Group has signed a lease for 100.8k sf of warehouse/distribution space in the city of Woodland, moving the company’s long-time industrial operations once housed in the San Francisco East Bay Area city of Hayward northbound to the Sacramento region. The firm, a leading manufacturer of barbecue tools, accessories, and other products for cooking outdoors, whose existing lease was set to expire in approximately one year, has been part of the East Bay community for more than three decades.
The Companion Group’s new Woodland facility located at 1685 Tide Ct features ample dock and grade loading, good power, 24 foot clear height, skylights, fenced and secured site plus a security checkpoint, exterior LED lighting. The facility also provides quick access to Interstate 5, along with a network of other major logistical freeway routes.
Kate Woodcox and Michael Harris with Cushman & Wakefield represented the tenant in the transaction. According to Woodcox, the Woodland location will allow them to operate at a cost significantly less—approximately one-third the cost—than today’s rents for comparable facilities in the Bay Area. Terms of the lease were not disclosed.
As a result of the move, The Companion Group’s 150k sf former warehousing facility in Hayward is being offered to the market on a sublease basis, an effort headed by Woodcox. She noted, “Their sublease presents a great low-cost opportunity for a company wanting to be in the East Bay, either as short-term space at a deeply discounted rate—just $0.38 gross—and or perhaps a longer-term tenant attracted to the potential of such a low rate in their first year followed by a direct landlord deal—essentially achieving a reduced effective rent over the span of both terms.”
Founded in 1984 as Charcoal Companion, The Companion Group’s family of brands began over 30 years ago with a single charcoal starter. The company now offers five brands of high-quality and innovative products for entertaining with the barbecue and pizza making experience, both outdoor and indoor. These brands include De La Terre, Not In My Backyard, Charcoal Campion, Pizzacraft, Steven Raichlen, and Patio Companion. The company services some of the nation’s largest – and smallest – companies.
According to Cushman & Wakefield’s latest first quarter of 2019 market report, Woodland had an industrial vacancy rate of just 4.6%, while overall industrial vacancy in the Sacramento region hit a new all-time low of 4.4%. The report indicates that Sacramento’s industrial market fundamentals remain strong and is poised for another strong year.
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