World’s Largest Christmas-Themed Illuminated Event Leases East Bay Building

The producer of “the world’s largest holiday-themed illuminated event” has secured a 103,049-square-foot lease at the Contra Costa Logistics Center in Oakley. Texas-based Enchant holds events every year in San Jose between November-January.

Located at 4300 Wilbur Avenue in Oakley, the Contra Costa Logistics Center is a new Class A industrial facility under construction with plans to open in the fourth quarter of 2022. Enchant will occupy Building 3, which includes 36-foot clear heights, 42 dock doors, trailer parking and drive-in doors.

The Contra Costa Logistics Center opened its doors in the third quarter of 2020 and aims to provide the Bay Area market with warehouse space. The three total buildings total 2.2 million square feet.

Oakley is located in the Easternmost part of the Bay Area. It is about 30 minutes southeast from the East Bay tri-valley submarket consisting of Dublin-Pleasanton-Livermore, and 20 minutes east from the Concord/Walnut Creek submarket. Nearby cities include Pittsburg and Antioch.

Contra Costa County’s industrial market has a 4.7 percent vacancy rate, according to a second-quarter report by CBRE, who represented Enchant in the deal. While the vacancy remained the same from the previous quarter, lease rates increased slightly from $1.08 per square foot to $1.10. Enchant was the second-largest lease in the county in the second quarter, just trailing Lowe’s which also leased a logistics building in Oakley measuring at 103,841 feet.

“The Bay Area industrial market has one of the lowest vacancies in the country, so large new industrial deliveries like the Contra Costa Logistics Center are extremely rare. With limited land available in the region, Oakley has emerged as a vibrant industrial market for state-of-the-art Class A space. Its high-quality facilities and proximity to both the Bay Area and Sacramento created an advantageous opportunity for Enchant,” Greg Smyth of CBRE said.

Contra Costa aligns with the strong industrial market across the East Bay. As a whole, the East Bay has a vacancy rate of 4.5 percent, according to a report by JLL. Asking rents grew by 13 cents to $1.26 from the first quarter. The strong market can be attributed to demand for industrial space that far outpaces supply.