We have a new listing for lease in Bay Point, CA. The light industrial warehouse is comprised of 4,800 sq. ft. on just over 20,000 sq. ft. lot. The lot is fenced and paved with excellent storage.
Details of the listing can be found here: 4300A Evora Rd, Bay Point, CA.
Wishing all a Safe and Happy 4th of July! May your Independence Day be filled with laughter, people you love, good food, and thankfulness that you live in an incredibly free country.
NOTE: Our office will be open on Jul 3 and closed on Jul 4.
| This property has undergone some recent upgrades including new paint in the office area, LED lighting throughout the building, and new flooring in the office. Call me at (925) 385-8798 to discuss or to schedule a tour. Sincerely, Peter Maclennan |
| Property Overview |
| ±8,070 sf of Light Industrial space for lease ±7,000 sf of Warehouse with a private restroom ±1,000 sf of Office with Mezzanine Space 5 Drive In Doors provide multiple entry points Almost 1 full acre of fenced & paved yard Zoned Light Industrial – City of Antioch Skylights provide abundant natural light |
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| The building sits on a 41,774 sq. ft. lot. The lot is fenced and paved for the next tenant with access on all sides of the building. |
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The National Association of Realtors has released its March 2021 edition of its Commercial Market Insights. Here is a brief summary of some relevant highlights.
Commercial Sales Transaction Volume in March of 2021 was down 28% from the prior year on transactions in excess of $2.5 million. The only sector that saw an increase in transaction volume year-over-year was hotels. This is likely due to opportunistic investors moving into the space.
As the commercial market stabilizes, commercial cap rates will continue to decline. Lower cap rates contribute to higher prices. National cap rates for properties above $2.5 million, apartments averaged lowest cap rate at 4.9% with industrial properties averaging 5.9%.
For properties below $2.5 million Class A apartments had the lowest cap rate of 5.7%, Class B Apartments at 6.4%, and industrial averaged 6.8%
Office leasing continues its negative trend of absorption. Since Q2 of 2020 the cumulative total negative net absorption of 138.4 million square feet. This trend is not surprising as many companies are adjusting to Work From Home (WFH) and adapting their office use accordingly.
Industrial absorption rose 82.7 millions square feet in 2021 Q1 and was net positive 309.7 million square feet for the past 4 quarters. This trend is not surprising either as we have seen an increase in online shopping, which is dependent on warehouse and “last mile” storage.
The commercial real estate market in the Bay Area contributes to national trends, but varies from national trends at many times. The old adage in real estate is “Location, location, location.” Trends in the San Francisco Bay Area very from area to area as well.
It is imperative that you work with a real estate professional that knows what is happening in your region and with your property type. For advice on how to navigate your specific commercial real estate question, please call Peter Maclennan at 925.385.8798.
New Price – $1,500,000!
The owners of 1780 Monument Blvd have asked us to do a significant price reduction. We are lowering the asking price by $150,000 to $1,500,000.
This exceptional property boasted a traffic count of close to 30,000 cars per day (prior to Covid-19). It is a unique opportunity to own an automotive property in primarily a retail area.
It also allows for access from both directions on Monument Blvd with a left turn lane in front of it.
Call Peter today to discuss at 925-385-8798.
