Colliers 2017 Industrial/Commercial Property Summary & Future Projections
The Antioch Industrial/Commercial real estate market continues to stay busy, as 2018 unfolds, the Highway 4 Corridor will be good for property owners and be challenging for buyers. However, dynamics are in place that will cause new construction.
Lease rates and price points on building sales are still below the returns needed to encourage new development in East County and land available for development has become increasingly scarce along the Highway 4 Corridor with the best opportunities in the eastern portion of the region. The cost of new development has increased significantly since last quarter. Below is a list of properties that were leased or sold in the last quarter of 2017 in Antioch:
- Smart 72 Solar Co. leased an approximate 1,700 sf. office/warehouse building on Verne Robert Circle in Antioch, a Northern California expansion from their Central Coast hub.
- Rocketship Charter Schools purchased a 24,000 sf. office/warehouse building on 2 acres at 1700 Cavallo St. Antioch to convert to a neighborhood charter school.
- Swirls Frozen Yogurt leased a 1,347 sf. in-line retail shop at Bluerock Center, Antioch. The premium Bluerock Center is a mix of high-quality office property (Sutter Delta Urgent Care, Contra Costa Medical College, TrueMed Home Services) and retail (Starbucks, Mr. Pickles, Swirls).
- The 23,750 sf. Antioch Indoor Sports facility at the Hillcrest Ave and Highway 4 interchange sold to a private investment group that will continue to operate the premier indoor sports facilities.
- TrueMed Home, an in-home assistance & care placement business leased 1,750 sf. at the Bluerock Center Antioch. This is an expansion of their So. San Francisco and Walnut Creek-based operations.
- Expanding from San Leandro CA, Bay View Insulation leased a 2,100 sf. office/ warehouse property 2515 W. 10th Street, Antioch, to support the residential construction expansion along the Highway 4 Corridor.
- Tidal Marine relocated from its Concord location to 2540 Wilbur Ave, Antioch. The 1.5-acre property with shop and office buildings was the ideal mix for the marine construction business.
- ABC (American Builders & Contractors) Supply, the national roofing, and construction supply, recently augmented their Martinez CA branch by also signing a 10-year lease at 2701 Verne Roberts Circle, Antioch, The property is a 20,000 sf. warehouse/showroom & office building situated on 2 acres with fenced yard.
- The 8,800 sf. “Home Team Pest” building on W. 10th. Street, Antioch sold to a private family trust. The tenant recently signed a long-term lease extension, positioning the property ideally for long-term steady income.
- ATT signed a lease extension on approximately 50,000 sf. warehouse on Verne Roberts Circle Antioch to extend their long-term occupancy at the warehouse & office facility. The building has a unique combination of features that include dock high loading, fenced yard areas, quality corporate office image and quick freeway (Highway 4) access.
Where Are We Headed?
- The trend of lower vacancy rates will continue through 2018; making it increasingly challenging for some businesses to find a suitable property.
- There will be more and more qualified small owner-occupier building buyers in the market, and fewer buildings available for sale.
- The Highway 4 widening is set to surprise many on how efficient it is to move in and out of the Highway 4 Corridor.
- Warehouse rental rates will rise another ±10% in 2018. o BART to Antioch will become operational in May 2018, from Pittsburg to the Hillcrest Station.
Here is time lapse of Highway 4 provided by 4eastcounty.org
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