Colliers International Facilitates Sale of 241,591 Square-Foot Class A Industrial Building in Livermore

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PLEASANTON, CA (September 23, 2020) – Leading real estate professional services and investment management company Colliers International recently represented Los Angeles-based Crow Holdings Industrial in the sale of 7600 Hawthorne Avenue in Livermore. Colliers Executive Vice President Michael Lloyd and Executive Managing Director Michael Carrigg worked with CBRE to represent the seller and buyer, Black Creek Group, a Denver-based leading real estate investment management firm.

"Demand for state-of-the-art industrial buildings is on the rise, and with e-commerce in high demand, companies are looking for real estate in suburban areas, like Livermore, that are in or near distribution hubs and warehouse spaces with footprints of 50,000 to 200,000 square feet," said Lloyd. "Many companies find Livermore-type markets ideal, because they're cheaper and offer access to important places like San Francisco, Silicon Valley and the Port of Oakland."

Construction of 7600 Hawthorne Avenue was completed in 2019. The property is divided into 5 percent office space and 95 percent warehouse space. Black Creek Group purchased the property partially occupied. They are currently marketing the building's vacant space and expect to see activity from a variety of industries including e-commerce and third-party logistics providers.

"With close proximity to major transportation routes, 7600 Hawthorne Avenue was an attractive acquisition for Black Creek Group as the building's prime location offers tenants connectivity to not only the Greater Bay Area, but the entire Western U.S.," said Gregg Boehm, senior vice president of acquisitions and development for the Western Region. "Additionally, this acquisition represents the kind of deals we are looking for, as we are actively pursuing high-quality industrial opportunities in strong performing markets like this."

Located in the National Business Park, 7600 Hawthorne Avenue is situated one and a half miles away from the I-580/I-680 interchange which offers access to Tracy, the Silicon Valley and the Port of Oakland.

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.

Media Contact:
Solana Tanabe
Allison + Partners Northern California
ColliersNorCal@allisonpr.com


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Michael Carrigg

Executive Managing Director & SVP

Pleasanton

Mike has been with Colliers International since 2001.  His focus is on representing both corporate tenants and institutional landlords in the East Bay with their real estate needs locally and nationally.  He acts as a single point of contact, assisting his clients with acquisitions, dispositions, lease negotiations, financial analysis, market analysis, lease administration and portfolio strategy. 

Mike has negotiated over 1,000 separate lease and/or sale transactions totaling in excess of $250,000,000 total transaction value.  His vast experience in the market and the relationships he has developed give Mike first-hand knowledge to smoothly guide a client through the transaction process – from market analysis and economics to the eventual lease or sale negotiation.  

Mike is extremely committed to fostering relationships with his clients, as evidenced by the high level of service he provides before, during and well beyond any transaction. He is a man of high integrity and is a fun person to work with.  Mike graduated from the University of California at Berkeley and resides in Danville with his wife and two sons.

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Michael Lloyd

Executive Vice President

Pleasanton

Michael Lloyd, SIOR, joined Colliers International in 1984 as an industrial broker specializing in the sale and leasing of industrial space in the I-580/I-680 corridor, from Pleasanton to Livermore to Tracy. His emphasis has been representing institutional property owners, major developers and tenants in sales/purchase and leasing of their projects. Since 1985, he has completed over 1,780 lease and sale transactions totaling more than 42 million square feet of space and has negotiated land and commercial property sales valued at nearly $2 billion.

 

In 2006, Michael became a Principal and Director of Colliers International and he was inducted into SIOR in 1998. Michael served as the 2008 Northern California Chapter SIOR President and also served on the SIOR Executive Committee from 2003-2009.

 

As an agent aligned with Colliers International, a full-service brokerage company, Mr. Lloyd has many resources available to him. These include market information tracked on our state-of-the-art computer system with software written specifically for our needs, along with deal analysis programs. Additionally, if the transaction requires the involvement of outside experts in legal matters, space planning or tenant construction, Colliers International makes those resources readily available. Mr. Lloyd is able to smoothly guide his client through the deal process – from site evaluation to space planning – to the eventual lease or sale negotiation and move-in. Michael is active in the local community as a Coach with CYO, Danville Little League and the AAU basketball organization.

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