Contra Costa Real Estate

November 26, 2024 by Peter Maclennan Leave a Comment

Recent Real Estate Transactions Overview

Here’s a summary of some recent real estate transactions we have been working on.

For Lease: 3930 Pacheco Blvd, Martinez Office Space

3930 Pacheco Blvd offers a charming single-story brick building along with an additional building currently configured as an open office. This property consists 5,260 sq. ft. in two buildings which could function as a small campus.

For Lease: 3380 Vincent Rd Ste 101, Pleasant Hill Warehouse

3380 Vincent Rd, Suite 101 is ±6,563 sq. ft. of light industrial warehouse and office space. With a dock high door for easy truck unloading, this space is ideal for distribution, assembly, and storage.

Front view of warehouse/flex space with a high dock door.

8,000 sq. ft. Antioch Warehouse for Lease

exterior photo of 511 Wilbur Ave Suite B4 Antioch CA a metal warehouse building

This Antioch warehouse space contains multiple power meters and three (3) roll up doors. The clear span warehouse allows for easy movement, storage, and assembly.

Tenant Representation: 2 Walnut Creek Office Spaces

Space 1 – 1,100 Sq. Ft. Office Lease

Our client was seeking office for their nascent home health care business. We toured multiple locations and identified the property in the Shadelands as the most ideal for their needs. We were able to negotiate successful lease terms and get them into their space.

Space 2 – 1,700 Sq. Ft. Office Lease

A past client contacted me regarding their expiring lease. They realized that they could function in a much smaller space. After touring multiple properties, we determined that a smaller space within their same project at Shadelands would be the best fit. We were able to negotiate an acceptable rent and tenant improvement package to get them into their new space.

For Sale: 24,000 sq. ft. Warehouse Building in Concord, CA

The building at 5135 Port Chicago Hwy in Concord is a great leased investment for the discerning buyer. The tenant mix is varied and includes substantial rental increases for many of the tenants.

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Contact Peter Maclennan today to discuss how he can assist with your real estate needs.

June 10, 2022 by Peter Maclennan Leave a Comment

Six Reasons Commercial Tenant’s Need an Agent…

Tenant representation cover image with a commercial warehouse in the background by Maclennan Investment Group

Many small business owners and entrepreneurs are tempted to represent themselves when leasing property for their business. There are multiple advantages to hiring a commercial real estate broker to represent them when considering a new office, store front, or warehouse for their business in Contra Costa County.

Here are six reasons commercial tenants should choose to hire a commercial agent to represent them:

The Landlord’s Agent is looking out for the …Landlord.
- Represents the landlord’s interests
- Seeking the highest rent for the landlord
- May present a single property, not all that is on the market
The Tenant’s Agent:
- Represents Only the Tenant
- Seeks the lowest rent for the best space meeting the Tenant’s needs
- Will solicit offers from multiple landlords to expose the Tenant to the entire market.
Typically, the landlord pays for the tenant’s agent. When a tenant pays “Market Rent” there is often an embedded commission for the compensation of the tenant’s agent. Do you like paying for something that you aren’t getting the benefit of using?
Commercial rent comps are not easy to find. A good tenant representative will be able to help negotiate a deal that is line with other recent transactions and reflective of concessions.
Negotiating Concessions. A landlord may be willing to offer free rent or tenant improvement funds for a higher rental number. A tenant agent will be able determine what concessions are appropriate.
Tenant Improvements. Tenants may elect to pay lower rent and pay for tenant improvements on their own. Tenant representatives can aid in finding a contractor and architect to determine the cost of tenant improvements.

A commercial lease transaction can be challenging for business owners to do on their own. Having an experienced agent helping navigate the process can save costs, time, and frustrations.

Peter was referred to my business when we needed to move locations. As we began to work together I could tell we had made the right decision for our needs. …The office could not be better and our experience working with Peter was fantastic. When we have to move again, having Peter represent us will be the easiest choice we make!

– Chris J.

Contact Peter Maclennan

Let Peter help you with your next leasing transaction.

925-385-8798

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July 1, 2021 by Peter Maclennan Leave a Comment

Happy Independence Day!

I hope you enjoy a safe 4th of July holiday celebrating the freedom we enjoy in the United States.

fireworks info graphic from NFPA.org Each year fireworks injure thousand and cause thousands of fires.

May 14, 2021 by Peter Maclennan Leave a Comment

Video Walk-Through of Martinez, CA Office for Lease

The creative office building at 3930 Pacheco Blvd in Martinez is for lease. There is ±7,228 Sq. ft. located across 3 buildings available for lease.

Schedule a Tour with Peter Today!

Schedule a Tour

May 14, 2021 by Peter Maclennan 1 Comment

NAR Commercial Market Insights

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 Transaction Volume

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.

National Commercial Real Estate

Commercial Cap Rates

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%

Leasing Activity

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.

Bay Area Commercial Real Estate

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.

925.385.8798

Recent Real Estate Transactions Overview

For Lease: 3930 Pacheco Blvd, Martinez Office Space

For Lease: 3380 Vincent Rd Ste 101, Pleasant Hill Warehouse

8,000 sq. ft. Antioch Warehouse for Lease