A 155,000-square-foot Oakland warehouse once filled with Anheuser-Busch beer has been subleased by a Chinese tenant.
Anheuser-Busch, based in St. Louis, subleased the distribution warehouse at 8380 Pardee Drive to Lansum International, a tech consultant based in Shanghai, the San Francisco Business Times reported. Terms of the lease were not disclosed.
Lansum, whose U.S. operations are based in Los Angeles, didn’t say what it planned to do with the warehouse north of Oakland International Airport.
Colliers represented Lansum in the deal. Brokers Bob Ferraro, Michael Barry and Kurt Mrazik of CBRE represented sub-landlord Anheuser-Busch.
The beer maker has outsourced its Bay Area suds distribution business to South San Francisco-based Matagrano and Antioch-based Markstein Sales, which have their own beverage warehouses. The deal resulted in the layoff of 142 Anheuser-Busch workers.
Anheuser-Busch is a unit of Belgium-based Anheuser-Busch InBev, the world’s largest brewer also known as AB InBev.
San Diego-based Westcore Properties bought the industrial building on Pardee Drive in 2020 for $40.5 million from an affiliate of Horizon Beverage, a wholesaler whose Oakland operations were acquired by Anheuser Busch in 2015.
Oakland’s 35 million-square-foot industrial market has continued to see strong leasing activity despite recent economic turmoil, according to Bob Ferraro of CBRE.
Premium Class A buildings are in demand, he said, given that much of Oakland’s industrial facilities are between 40 and 50 years old. The city’s industrial market ended the third quarter with a 3.9 percent vacancy rate and a 4.6 percent availability rate, which includes space listed for sublease.
— Dana Bartholomew
Read more
Commercial
San Francisco
EverWest acquires San Lorenzo warehouse complex for $35M
Commercial
San Francisco
PCC Logistics leases 460k sf from CenterPoint Port of Oakland