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BAY AREA NEWS
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Prologis Spends $36 Mil on East Bay Development Site

10/17/18

Prologis Inc paid $36.1 mil for a 13.71-acre redevelopment site in the East Bay community of San Leandro. The site, located at 880 Doolittle, will be used for a future logistics project.

Prologis has long-term plans to develop the site, now being used for off-airport parking at Oakland International Airport (OAB), into a state-of-the-art distribution center with a focus on e-commerce. The HFF team structured a sale-leaseback, which means the parking lot operator will maintain the ability to service OABís parking needs for years to come.

880 Doolittle is positioned inside San Leandroís Industrial General district, just off I-880 and 1.4 miles from OAB. The San Francisco East Bay logistics market remains one of the strongest in the country. With vacancies hovering around one percent and a scarcity of land available for development, the site represented a unique opportunity for Prologisí future development plans.

Scott Pertel, Andrew Briner and Alec Haley with HFF represented the property seller, a joint venture between Parking Acquisition Ventures LLC and an affiliate of Oz Real Estate.





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