DALLAS, April 17, 2018 /PRNewswire/ -- Colony
Industrial announced today that it has acquired a two-building East
Bay industrial portfolio in San Leandro,
CA. Colony Industrial is the industrial platform of Colony
NorthStar (NYSE:CLNS), a diversified global real estate investment
firm with $43 billion of assets under
management. Financial terms of the transaction were not
disclosed.
Colony Industrial has made its first investment in the
Oakland/East Bay area with two
Class A light industrial buildings totaling 587,051 square feet,
located at 2380-2388 Williams Street and 1717 Doolittle Drive in
San Leandro. This unique portfolio
is fully leased to five high-quality tenants with a weighted
average lease term remaining of 5 years. San Leandro is located on the eastern shore of
San Francisco Bay, south of Oakland, just two miles from Oakland International Airport and 10 miles
from the Port of Oakland.
"San Francisco/Oakland is a terrific, high demand and low
vacancy market," said Lew Friedland,
Colony NorthStar Managing Director and head of Colony Industrial.
"The East Bay industrial portfolio is ideally situated near
San Francisco and Silicon Valley
businesses, highways, airports and the port. The properties fit
perfectly with our strategy of occupying the "last-mile" in the
logistics chain for ecommerce retailers, distributors and
manufacturing companies that require ever-faster delivery to their
B2B, wholesale and retail customers. We look forward to further
expansion in the San Francisco Bay area."
CBRE National Partners Darla Longo, Barbara Perrier, Rebecca
Perlmutter Finkel, and Michael
Kendall acted as real estate brokers on the transaction.
About Colony Industrial
Headquartered in Dallas, TX, Colony Industrial is the
industrial platform of Colony NorthStar (NYSE: CLNS), a diversified
global real estate investment firm with $43
billion of assets under management. The platform owns and
manages over 45 million square feet of warehouse buildings in 18
major markets across the United
States as of March 31, 2018.
Its diversified tenant base includes major national B2B, B2C,
wholesale and consumer businesses. For more information, visit
www.clns.com/industrial.
About Colony NorthStar
Colony NorthStar, Inc. (NYSE:CLNS) is a leading
global real estate and investment management firm. Colony
NorthStar has significant property
holdings in the healthcare, industrial and hospitality sectors,
other equity and debt investments and an embedded institutional and
retail investment management business. Colony NorthStar currently has assets under
management of $43 billion and manages
capital on behalf of its stockholders, as well as institutional and
retail investors in private funds, non-traded and traded real
estate investment trusts and registered investment companies. The
firm maintains principal offices in Los
Angeles and New York, with
approximately 500 employees in offices located across 18 cities in
ten countries. Colony NorthStar
will elect to be taxed as a REIT for U.S. federal income tax
purposes. For additional information regarding Colony NorthStar and
its management and business, please refer to www.clns.com.
Contacts:
For Colony Industrial
Owen Blicksilver Public Relations, Inc.
Lisa Baker
914-725-5949
lisa@blicksilverpr.com
or
Caroline Luz
203-656-2829
caroline@blicksilverpr.com
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SOURCE Colony Industrial