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3/11/24
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A 49.8k sf warehouse and cold storage facility in Hercules, CA was acquired by a Sutter Health entity. The property, located at 200 Linus Pauling Dr, roughly 20 miles north of Oakland, features 7.7k sf of office space, six dock doors, four grade level doors, 22’ clear height, 2,000 amps of power, and 8k sf of cooler space.
Kevin Hatcher and Austin Hinder of CBRE represented the seller, Multiple Organics. The price was not given out.
“Industrial assets have been the most sought-after product type even amid rising interest rates and capital constraints,” noted Hatcher. “Well-located, highly functional industrial assets like 200 Linus Pauling Drive rarely become available in the East Bay and the property’s proximity to life science, research and development companies like Bio-Rad Laboratories strengthens the region’s talent ecosystem.”
Warehouse/distribution space represented 90% of the total leasing volume in Q4 2023, according to CBRE Research. The Oakland industrial market remains tight with a vacancy of 3.8% at the end of last year. The last time vacancy in the Oakland industrial market was above 5% was in 2013. The Oakland industrial market will be getting much needed supply, with 1.2 msf of new supply expected to deliver in 2024.
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