Cushman & Wakefield Announces Sale of Self Storage Facility in Northern California’s East Bay Area

CASTRO VALLEY, Calif., January 16, 2019 – Cushman & Wakefield announced the firm has completed the sale of Lockaway Storage in Castro Valley, California, a primarily residential community in the eastern region of the San Francisco Bay Area, or East Bay. Located at 8555 Dublin Canyon Rd., the project contains 26,000 rentable square feet of storage area as well as 135 outdoor RV/boat parking spaces. The seller was a private individual based in Northern California and the buyer was Ramser Development Company based in Southern California (Orange County). Greg Wells, Senior Director of Cushman & Wakefield’s Self Storage Practice Group, represented the seller and also procured the buyer in the transaction. “Lockaway Storage – Castro Valley is a best-in-class asset located adjacent to Interstate 580 midway between Hayward and the Dublin/Pleasanton communities,” said Wells. “This strategic location has ensured the project maintains high occupancy (95%+) and will provide the buyer [...]

2018 a Record-Setting Year to Remember for San Francisco Office Market

Year Ends with More Large Tech Deals, Positive Trends, but Supply Could Impact Growth Ahead SAN FRANCISCO, Calif. – January 10, 2019 – 2018 was a year for the San Francisco history books, according to Cushman & Wakefield’s year-end office market report. The firm’s quarterly publication revealed San Francisco produced a number of records this past year in the dominant office sector, including record high rents and new construction deliveries. In addition, vacancy reached a three-year low, while tenant requirements (demand) held strong. Also favorable to the market’s economic stamina, the most recent San Francisco metropolitan division (San Francisco and San Mateo counties) unemployment rate was a minimal 2.2%, dropping even further below the year ago figure of 2.6%. Year-over-year (YOY) total private sector jobs increased by 2.0% to 1,023,600 while office using positions increased 2.5% to 397,400. Overall San Francisco office market vacancy closed 2018 at just 6.4%, with [...]