Realterm Logistics closed on the acquisition of a 20,376 SF final mile distribution facility located at 6691 Clark Avenue, Newark, CA. The property is ideally situated to service the entire East Bay due to its proximate location to the I-880. Additionally, the property can uniquely service the communities of Silicon Valley and Northern San Jose as it is less than ten minutes away from the Dumbarton Bridge. The asset will be available by the end of Q1 2021.
"We are excited about adding this asset to our portfolio. This acquisition is our first in the Bay area and is a true team win for Realterm," said Blair Duncan, Associate Vice President of West Coast Acquisitions. "We look forward to acquiring more assets like this one in the Bay Area."
Highlights of the property include:
- Square feet: 20,376 SF
- Land area: 2.84 acres
- Access: I-880 – 4 minutes; Dumbarton Bridge – 8 minutes; 1-680 – 14 minutes
Justin Smutko, Mark Maguire, Nick Mascheroni and Paul Boskovich of Colliers facilitated the sale.