Sale, leaseback completed for California warehouse

Envelope manufacturer retains occupancy

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Prologis has purchased a fully leased warehouse/manufacturing facility comprising approximately 101,000 square feet in Oakland, Calif. The value of the transaction was $8.3 million. The property is located at 610-640 85th Ave. Tension Envelope, which sold the property, will lease back approximately 80,000 square feet of warehouse/manufacturing space from Prologis for a period of seven years. World Pac, already a tenant in the building, leases approximately 21,300 square feet of warehouse space. The facility was constructed in 1998 by Catellus Development and sold to Tension Envelope in 1999. Lee & Associates is a provider of specialized commercial real estate services in California, Arizona, Nevada, Illinois, New Jersey, Michigan and Missouri. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....