Contra Costa Real Estate

May 20, 2019 by Client Manager Leave a Comment

Versatile Space in Antioch

Near Wilbur Avenue in Antioch lies a large warehouse lot with several usable spaces for lease. Two warehouse/industrial spaces have recently been listed, each with potential for a variety of uses.

The spaces are 2,700 SF each with large roll-up doors, bathrooms and office space. These units may be easily converted to accommodate your business or personal use. Contact Maclennan Investments with inquiries at (925) 385-8798.

511 Wilbur Ave, Suite A3

At 511 Wilbur Ave. Suite A3, you’ll find an updated office space, along with a secondary office/meeting room and mezzanine above. View the listing for Suite A3 here.

511 Wilbur Ave, Suite A7

Suite A7 has easy access to the mezzanine above the office and skylights for bright daytime lighting. View the listing for Suite A7 here.

main_floor_office — 511 Wilbur Avenue A7

For more details and pricing, check out the site listings for Suite A3 and Suite A7, or view them both here on LoopNet.

January 23, 2018 by Peter Maclennan Leave a Comment

Industrial Real Estate Hottest Sector in 2017 and Hot in 2018

Industrial Real Estate Hot in 2017

According to a report, the hottest commercial real estate class is industrial property.

The industrial sector has emerged as the growth leader in commercial real estate, according to a new report by Morningstar, a notion that’s in agreement with the wider consensus about industrial now leading income-generating real estate. As a darling among owners and investors, apartments may still be strong, but the industrial sector is the rising star.

That’s thanks to Amazon and e-commerce as a whole. Industrial logistics space outperformed office, retail, apartment and even light industrial space in terms of supply, demand, occupancy and rent growth in the first half of 2017, noted the report. Read More… on Commercial Property Executive.

The article details that much of the growth is due to Amazon and other e-commerce companies.

As recent sales of industrial properties indicate, the availability of industrial land in core Bay Area markets is not growing.

Industrial Real Estate Stays Hot in 2018

According to research by NREI, industrial real estate and industrial properties should stay hot in 2018. A majority of survey respondents indicated that they expect the industrial market to continue expanding for at least a year. Almost 23% of respondents believe that the growth will last 2 years.

Fewer respondents were concerned about oversupply in the industrial real estate market. Over 80% of respondents indicated that the supply was just right or that there was too little supply. (Too little supply seems to be the trend in the San Francisco Bay Area.)

The experts that responded ranked the West as the top region, followed closely by industrial properties in the South.

Bottom Line:

All signs indicate that industrial leasing and sales will maintain a strong pace in 2018.

Maclennan Investment Group, Inc. offers leasing, investment, and property management services to clients in Contra Costa, Alameda, & Solano Counties. Our primary markets are along the I-680 Corridor from Pleasanton north to Martinez, including Danville, Alamo, Walnut Creek, Pleasant Hill, Concord, Pacheco, and Clayton. And also along Highway 4 from Concord east to Bay Point, Pittsburg, Antioch, Brentwood, Oakley, and surrounding Delta towns.

Please call today to see how we can help you find space for your business or fill up your building with high quality tenants. You can reach us at 925.385.8798.

June 13, 2014 by Peter Maclennan Leave a Comment

Update on Concord Naval Weapons Station

Layout of the Concord Reuse plan as adopted in February 2010

The Contra Costa Times has an update on the Concord Naval Weapons Station.

In January of 2014 the City of Concord requested a statement of qualification from interested master developers for the massive project in March. They received eight responses and had the responses reviewed by a third-party firm to score the responses. It appears that they have now narrowed the list down to four developers.

The developers are interested in the prospect of developing the weapons station. The proximity to the North Concord/Martinez BART station allows them to build low-density, single-family housing that has access to mass transit.

For more information on the Naval Weapons Reuse Project you can head over to their website www.concordreuseproject.org. To see plans of the proposed development you can view this pdf.

August 8, 2013 by Peter Maclennan Leave a Comment

2,100 New Apartment Units in the East Bay

I have mentioned a few times that a number of new apartments are coming online in the near future. Today the SF Business Times confirmed that almost 2,100 units are under construction to be delivered this year.

For existing apartment owners this likely means that they can expect to see vacancy rates creep up especially for units that have not been modernized and that rental growth is likely to slow.

What do you think? How will this affect existing apartment owners?

November 19, 2012 by Peter Maclennan Leave a Comment

Stuck in 2007

I speak with a number of real estate investors that own duplex, triplex, or fourplex properties and they expect to get 2007 pricing for their property, even though it is 2012. They are stuck in 2007. When I tell them that I think their property would sell for a range of value, they are upset that the market won’t pay them more for their property.

For some owners, this is bad news because they bought in 2006 or near the peak of the real estate bubble. When I tell them the current market’s assessment of their property they are underwater on their investment property.

For other owners that bought prior to the real estate bubble, they still have a significant amount of equity in their property. This equity may be earning a very low return when compared with other investment alternatives.

Harmful Thinking

One of my favorite shows is ABC’s Shark Tank. On the show aspiring entrepreneurs and inventors pitch their ideas to a team of wealthy investors or “sharks”. The entrepreneurs have to sell the Sharks on why their idea is going to make money and be a good investment.

On many of the episodes a Shark will tell the aspiring entrepreneur that although he/she likes the person or the investment, he/she cannot invest because they are a disciplined investor. Kevin O’Leary frequently refers to his money as “an army” that he likes to send out making sure that they bring back more than they left with.

Living in the past is detrimental to making wise decisions about the future. Eventually prices may get back to the level of 2006 or 2007. The question is: How long is the investor willing to wait for those prices? How many better investments are you going to miss because you are waiting for the market high to come back?

Thoughts?

What motivates people to hold on to an investment even if it is not generating optimum returns?

511 Wilbur Ave, Suite A3

511 Wilbur Ave, Suite A7

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Industrial Real Estate Hot in 2017

Industrial Real Estate Stays Hot in 2018

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Harmful Thinking

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