Newmark Arranges Sale of 11-Building Shallow Bay Industrial Portfolio in Dublin, California
Newmark has arranged the sale of Sierra Trinity, an 11-building shallow bay industrial portfolio located at 6701 Sierra Court in Dublin, California, within the San Francisco East Bay submarket, the firm announced June 5, 2026.
Newmark Executive Vice Chairman and President, Western Region Capital Markets Steven Golubchik, Vice Chairman Edmund Najera, Senior Managing Director Darren Hollak, and Associate Director Brendan Raney represented both the undisclosed seller and buyer in the transaction.
Portfolio Overview: Sierra Trinity Industrial Park
Sierra Trinity was 97% leased at the time of sale to nearly 40 tenants spanning a variety of industries. No single industry accounted for more than 20% of the rent roll. The portfolio offered in-place cash flow supported by an average lease commitment of more than nine years, along with potential future upside through mark-to-market rent adjustments. Renewing tenants at the property achieved an average rental rate increase of 7%.
The property sits in Dublin's Tri-Valley area, which also encompasses Pleasanton, San Ramon, and Livermore. The site provides access to both Interstate 680 and Interstate 580, the primary north-south and east-west corridors serving the inner East Bay. The surrounding submarket is home to major employers including Workday, Lam Research, and Kaiser.
Demand for Shallow Bay Industrial Real Estate Drives Competitive Bidding
The transaction drew a broad field of prospective buyers. "The marketing process for Sierra Trinity yielded a deep bid pool of institutional, local and family office buyers," said Golubchik. "The competitive marketing process demonstrated the demand for multi-tenant, shallow bay industrial product in infill locations."
The outcome reflects broader national trends in the industrial real estate sector. According to Newmark Research, 80% of industrial leases signed in the United States in 2025 were for spaces under 50,000 square feet. Buildings under 100,000 square feet carry a vacancy rate of 5.3%, compared to the national industrial average of 7.5%.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm offering services across the property life cycle. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of March 31, 2026, Newmark and its business partners operated from over 185 offices with more than 9,600 professionals across four continents.