Sagard Real Estate Acquires Industrial Outdoor Storage Property in San Leandro via La Caisse Joint Venture
Sagard Real Estate has acquired a fully leased industrial outdoor storage property in San Leandro, California, the firm announced May 15, 2026, adding another asset to its growing industrial real estate portfolio through a recently launched joint venture with global investment group La Caisse.
The acquired property, located at 2851 Alvarado Street along the I-880 corridor in the East Bay, sits on 2.02 acres and includes a 14,905-square-foot warehouse. The site features full site circulation, dual ingress/egress, and a layout suited for fleet, distribution, and outdoor storage uses. Financial terms of the real estate acquisition were not disclosed.
IOS Strategy Targets U.S. Seaport Markets
The San Leandro deal was made through Sagard Real Estate's joint venture with La Caisse, which the firm describes as a recently launched vehicle focused on industrial outdoor storage assets across major U.S. infill markets. The partnership's stated mandate centers on seaport-adjacent locations where tenant demand is driven by proximity to major ports, population centers, and trade infrastructure.
San Leandro fits that profile. The property offers direct access to Oakland International Airport and connectivity across the Oakland–San Francisco metro area. The Oakland–East Bay industrial market is described by the firm as highly supply-constrained, driven by limited land and strong port-related demand, with San Leandro benefiting from low vacancy and stable fundamentals.
"This acquisition reflects our continued focus on high-quality IOS assets in infill markets where supply constraints and strong tenant demand support long-term value creation," said Tom Stover, Managing Director, Acquisitions at Sagard Real Estate. "With a well-located site and embedded mark-to-market opportunity, the property is well-positioned to benefit from the favorable fundamentals in the East Bay industrial market."
East Bay Industrial Market Remains Supply-Constrained
According to Sagard Real Estate, the Oakland–East Bay industrial market remains highly supply-constrained, driven by limited land and strong port-related demand. San Leandro benefits from low vacancy and stable fundamentals within this corridor.
Sagard Real Estate noted an "embedded mark-to-market opportunity" at the property, language that suggests potential upside at lease rollover. The property is currently fully leased; tenant names and lease terms were not disclosed.
Sagard Real Estate Expands Industrial Real Estate Footprint
Sagard Real Estate, a subsidiary of global multi-strategy alternative asset management firm Sagard, manages approximately $6.0 billion in assets under management across separate accounts and commingled funds. Founded in 1997 and headquartered in Denver, the firm maintains regional investment offices in New York City, Charlotte, Austin, Los Angeles, and the San Francisco metro area.
The San Leandro acquisition adds to Sagard Real Estate's presence in high-barrier-to-entry coastal markets. Parent company Sagard manages more than $46 billion in assets across venture capital, private equity, private credit, and real estate, with offices in Canada, the United States, Europe, and the Middle East.
About the Property
The subject property at 2851 Alvarado Street spans 2.02 acres in San Leandro. The improved site includes a 14,905-square-foot warehouse building and is configured for outdoor storage and fleet operations. Its location along the I-880 corridor provides direct connectivity to Oakland International Airport and the broader Oakland–San Francisco metro area.