Industrial property

CenterPoint buys another industrial property in East Bay

CenterPoint Properties has purchased a 190,000 square foot industrial building in Hayward, California for $52.8 million.

Life Chiropractic College West sold the property at 24801 Industrial Blvd. in a transaction that closed on July 15, according to San Francisco Business Times.

The property was acquired through a sale-leaseback transaction according to documents from the Alameda County Clerk and Recorder’s office.

The transaction is CenterPoint’s last in the East Bay. The company acquired last year a Industrial building 208K PC in Fremont, California. The company also acquired an industrial property of 45K SF from Hayward in November last year, according to the San Francisco Business Times.

CenterPoint said late last year it wanted to invest $100 million in industrial assets in the Bay Area in 2022 each quarter, according to a company press release.

CBRE’s recent second quarter market report on the Oakland industrial market noted the high industrial vacancy in the East Bay so far, with Hayward posting a vacancy rate of 1.6%.

The city has also seen several notable industrial leasing transactions, with major leases from Veev Group Inc. and Crane Worldwide Logistics.