ShopCore has listed a 480,700-square-foot manufacturing campus in San Leandro, with an undisclosed price.
The Chicago-based unit of Blackstone has put the two-building Williams Street Industrial Park up for sale at 2010 and 2020 Williams Street, the San Francisco Business Times reported.
ShopCore bought the 191,000-square-foot and 289,700-square-foot buildings in 2019 for a respective $18.5 million and $50.8 million, or $97 and $175 per square foot.
The industrial campus is 78 percent leased, with a weighted average lease term of 3.7 years.
It’s zoned for traditional industrial uses, as well as advanced manufacturing and life sciences, with 15,200 amps of power, marketing materials show.
The property is home to Lyten, a lithium-sulfur battery maker that in November subleased 119,000 square feet from Cuberg, which laid off 200 workers and moved its operations to Sweden, according to the Business Times.
Other tenants include First Amendment Brewery, Air Protein, CoreShell, Aclima, Zocalo Coffee and District Council 16.
Newmark’s Darren Hollak said the campus has already garnered significant interest and checks a lot of boxes for investors, with its power capabilities, infrastructure improvements, and battery and cleantech tenants.
San Leandro has ridden a cleantech boom, adopting policies and programs to absorb the growing demand and fill vacant warehouse and industrial manufacturing facilities.
The East Bay city is also updating its economic development strategy to support cleantech and advanced manufacturing growth, while working to streamline its noncommercial zoning.
In the third quarter, its 3 million-square-foot research-and-development market was 13.8 percent vacant, the Business Times determined, citing the most recent available figures from an unidentified source.
ShopCore, founded in 2016, is a retail unit of New York-based Blackstone, with 9 million square feet of properties, including 60 shopping centers in 15 states, according to its website.