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7/18/22
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We’ve got two recent sales transactions from the East Bay to share, one for a self-storage facility in Fremont and the other for a multifamily community in Hayward. The deals totaled $42.75 mil and were brokered by Adam Levin of Levin Johnston, who repped both sellers and procured both buyers.
In Fremont, The Storage Spot, a 645-unit self-storage facility located at 38491 Fremont Blvd, traded for $20 mil ($31k/unit). The asset, consisting of a 57k sf structure on 2.86 acres, is at 95% occupancy. The property is well-situated due to its central location with excellent transportation corridors to major airports and freeways.
In the other transaction, University Village, a 68-unit multifamily community in Hayward, sold for $22.75 mil ($335k/unit). The 52.1k sf property, situated on 2.37 acres at 25400 Carlos Bee Blvd, offers a mix of one-bedroom and two-bedroom floor plans. There are many amenities including upgraded kitchens, stainless steel appliances, modern cabinetry, granite counter tops, vinyl plank flooring, several community rooms, 124 parking spaces, and a large auditorium that has the potential to be converted into extra units.
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