Two East Bay industrial and manufacturing buildings were bought for more than their assessed value in a hopeful sign for a commercial property market haunted by widespread weaknesses in prices.
San Diego-based Realty Income Corp. led a group that purchased a San Leandro building at 14470 Catalina St. for $26.7 million, documents filed this month at the Alameda County Recorder’s Office show.
The price was 47.5% above the building’s assessed value of $18.1 million, as calculated in January 2025. The building totals 90,700 square feet, the LoopNet property database shows.
Alere Property Group, a real estate firm with multiple California offices, headed up an entity that acquired a building at 33401 Central Ave. in Union City for $26.2 million, county documents show…