Pinole Point Business Park Welcomes New Tenant - November 14, 2011

Colliers International announces a new lease transaction in Richmond today. Serena & Lily, Inc., a home furnishing, décor and custom upholstery company, needed to consolidate their regional warehouse facilities and expanded into the new space at Pinole Point Business Park in Richmond, CA. Their new facility will consist of ±54,896 square feet warehouse and manufacturing space located at 2100 Atlas Road, Suite A, Richmond, CA.

Serena & Lily, Inc.'s corporate headquarters is located in Sausalito and has been there for over 8 years.  Their new neighbors in the Richmond business park include Bio-Rad Laboratories and FBA Holdings, a subsidiary of Sears. "After an extensive search, Serena & Lily chose Pinole Point Business Park due to the fact that there is very limited product in the area that is as high quality as this space," says Todd Severson, SIOR of Colliers International, one of the brokers who handled the transaction.

Pinole Point Business Park is a state-of-the-art Class A industrial park that is centrally located to serve the entire San Francisco Bay Area. Business Park features include ESFR sprinklers, 26' minimum interior ceiling clearance, extensive glass line, professional landscaping, high-end office finishes, and dock and grade level loading. There is ±200,000 square feet remaining available for lease within Pinole Point Business Park.

Industrial Income Trust acquired the ±474,754 square foot business park from Sares-Regis Group last year. The purchase was a part of the ±721,204 square foot portfolio that included ±246,450 square feet in Fremont at Bayside Business Park. Sares-Regis Group retained the 43 acres of land at Pinole Point Business Park for future build-to-suit developments.

Greig Lagomarsino, SIOR and Todd Severson, SIOR, Senior Vice Presidents with Colliers International's Oakland office, represented the Landlord, Industrial Income Trust, and Brian Barden of Lee & Associates' Oakland office, along with Brian Foster of Cassidy Turley BT Commercial represented the Tenant, Serena & Lily, Inc. in this transaction.

About Colliers
Colliers International is the third-largest commercial real estate services company in the world with 12,500 professionals operating out of more than 512 offices in 61 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International as the top U.S. real estate company and the latest annual survey by the Lipsey Company ranked Colliers International as the second most recognized commercial real estate brand in the world.

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Colliers & CBRE Close the Largest Industrial Investment Sale of the Year - Sept. 9, 2010
Greig Lagomarsino, SIOR and Todd Severson, SIOR, Senior Vice Presidents of Colliers International, Oakland along with Darla Longo and Barbara Emmons of CB Richard Ellis, Ontario recently closed the largest industrial investment sale of the year in the San Francisco Bay Area.

Sares-Regis Group (Seller) sold an approximately 721,204 square foot institutional quality industrial portfolio consisting of four Class A buildings in Fremont and Richmond, California. The portfolio was acquired by Industrial Income Trust (Buyer). This purchase will become part of the Trust's core product. The sale price was undisclosed.

Three of the buildings are located in the Pinole Point Business Park in Richmond and total approximately 474,754 square feet. The buildings were constructed between 1999 and 2001 and are 89% leased to quality tenants such as Bio-Rad Laboratories, Alan Ritchey, contractor with the San Francisco hub of the US Postal Service, and FBA Holdings, a subsidiary of Sears. Pinole Point Business Park is a high image industrial park with expansive glassline, ESFR sprinklers, large truck courts, executive office space, and extensive dock-high loading and yard areas. Units within the business park range from 27,000 to 200,000 square feet.

The fourth building is located on the highly prestigious Fremont Boulevard in the Bayside Business Park in Fremont and is approximately 246,450 square feet. The facility was built in 1990 and is 100% leased to Supermicro Computer. Past tenants include Compaq Computer, Sony and Nestlé. The building features excellent loading, excess parking, heavy power and a lab and assembly area.

The three buildings at Pinole Point Business Park along with 43 acres of adjacent developable land recently traded hands in May of 2008. Sares Regis Group previously acquired the park from the developers, Pinole Point Properties, Inc. Sares Regis plans to retain the 43 acres of land for future build-to-suit developments.

Both business parks are strategically located in highly sought after Bay Area in-fill locations near Interstates 80, 580 and 680 providing convenient access to the Bay Area's three international airports and the ports of Oakland and Richmond.

"This is a significant transaction and a good sign, institutional investors are back doing business," said Todd Severson. Approximately 53,830 square feet of industrial space remains available for lease at 2100 Atlas Road in Pinole Point Business Park and Greig Lagomarsino, SIOR and Todd Severson, SIOR have been retained as the exclusive leasing representatives for the business park.

About Colliers
Colliers International is a global leader in real estate services with more than 15,000 professionals operating out of 480 offices in 61 countries. Colliers provides a full range of services to real estate users, owners and investors worldwide including: global corporate solutions; sales and lease brokerage; property and asset management; project management; hotel investment sales and consulting; property valuation and appraisal services; mortgage banking and insightful research. Colliers Parrish International, Inc., dba Colliers International, is headquartered in San Jose and has 11 offices in California and Nevada. For additional information visit www.colliers.com.

Pinole Point Business Park Reaches 100% Occupancy - Sept. 16, 2008
Pinole Point Business Park is a collection of warehouse/distribution and light industrial buildings in Richmond, currently at 100 percent occupancy. Two recent leases by tenants FBA Holdings, Inc. (±27,000 square feet) and International Delicacies, Inc. (±73,776 square feet) furthered a trend of renewals in the park. Furthermore, spaces that had been vacant have filled up quickly. Strategically located near the Port of Oakland, this business park is one of the few state-of-the-art, Class A products available. Brokers Greig Lagomarsino, SIOR and Todd Severson, SIOR of Colliers International in Oakland, represent the landlord, Sares-Regis Group.

In the first quarter of 2009, Sares-Regis plans to expand Pinole Point Business Park an approximate 670,000 square feet, Class A distribution space, which will sit atop 41.32 acres of land.

Colliers International is one of the largest commercial real estate firms in the world with 293 offices in 61 countries in the Americas, Europe, the Middle East, Africa and Greater Asia. Colliers International manages more than 868 million square feet of commercial property and has revenue excess of $2 billion. Colliers International is a worldwide affiliation of independently owned and operated companies. Colliers Parrish International, Inc., dba Colliers International is headquartered in San Jose and has 13 offices in California and Nevada.

Biorad Laboratories Inc. Selects Pinole Point Business Park - July 15, 2008
Sares Regis Group of Northern California announced today that it has leased a 116,250 square foot industrial cross-dock warehouse at Pinole Point Business Park to BioRad Laboratories Inc. The lease will be the largest to date in the Richmond submarket for 2008. Sares Regis acquired the property, located at the intersection of Atlas Road and Giant Highway in Richmond, in May. With this lease, the Pinole Point Business Park is now 100% occupied.

"We are pleased to have fully leased the Pinole Point project within two months of its acquisition," said Jeff Birdwell, president of the commercial division of Sares Regis Group of Northern California. "We look forward to breaking ground on approximately 600,000 square feet of space early next year, and expect the space to be highly sought after given the tight market and the lack of new speculative construction taking place in the area." Sares Regis Groups of Northern California currently manages more than 1.5 million square feet of industrial space in the East Bay area of the region. Irvine-based Sares Regis Group, an affiliate of Sares Regis Group of Northern California, has been collaborating on the acquisition, management and leasing of the Pinole Point Business Park.

Brokers Phil Garret and Brooks Pedder of Colliers International's Fairfield office represented BioRad Laboratories in the deal. The Hercules, California based company selected the new Pinole Point location because it is strategically located near the Highways 80, 580,and 880 corridors, with easy access to Oakland International Airport.

Several millions dollars of tenant improvements will be made to the space. While the lease rate has not been disclosed, Sares Regis Group was asking around $0.50 net per square foot.

Brokers Todd Severson, SIOR and Greig Lagomarsino, SIOR of Colliers International represented Sares Regis Group. The adjacent 49 acres of property that was also acquired in May with the existing business park will be developed by adding four new warehouse and light industrial buildings that will total approximately 600,000 square feet. Construction is scheduled to begin in the first quarter of 2009 with completion in early 2010. When completed, the business park will have over 1,000,000 square feet of state-of-the-art warehouse and light industrial space at Pinole Point.

Sares Regis Group of Northern California and its affiliates, Regis Homes of Northern California and Regis Contractors of Northern California are regional companies based in San Mateo, California and are affiliated with Irvine-based Sares Regis Group. One of the leading developers and managers of commercial and residential real estate in the western United States, today the companies have more than 6.5 million square feet of commercial properties valued at $500 million and over 2,800 residential units under development. Sares Regis Group has a combined portfolio of property and fee-based management contracts valued at more than $4 billion, including 13,000 rental apartments and 15 million square feet of commercial and industrial space. Since its inception the company has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units.

Sares Regis Group Of Northern California Acquires Pinole Point Industrial Park - May 5, 2008
Pinole Point Business Park, currently a 475,000 square foot industrial park consisting of three warehouse buildings on thirty acres, plus an additional 43 acres of adjacent developable land, has been acquired by San Mateo-based Sares Regis Group of Northern California. The property, located at the intersection of Atlas Road and Giant Highway in Richmond, was acquired from Pinole Point Properties, Inc.

The business park includes three high quality warehouse and light industrial buildings, constructed between 1999 and 2001. The property is strategically located near Highways 80, 580 and 780 corridors, providing convenient access to the Bay Area's three international airports and the ports of Oakland and Richmond.

The adjacent 43 acres of property that was also acquired with the existing business park will be developed by adding four new warehouse and light industrial buildings that will total 580,000 square feet. Construction is scheduled to begin in the first quarter of 2009 with completion in early 2010. The buildings are currently 82% occupied with a strong tenant base. When completed, the business park will have a total of 1,055,000 square feet of state-of-the-art warehouse and light industrial space.

Aquisition of Pinole Point Business Park provided Sares Regis Group an opportunity to further expand our commercial real estate holdings," said Jeff Birdwell, president of the commercial division of Sares Regis Group of Northern California. "We found the development opportunity on the adjacent land provided an added value play that we couldn't pass up."

Brokers Greig Lagomarsino, Todd Severson, Andy Zighelboim and Kevin Van Voorhis of Colliers International represented the seller. Sares Regis Group of Northern California will oversee over $43 million [$75 psf x 580,000] in new construction on the vacant land and serve as the property manager for the project.

"The Richmond real estate market will always benefit from its central location," said Birdwell. "There is very little new speculative construction taking place in the area and the lack of available development opportunities and high land values will limit any new supply of industrial and warehouse product for years to come."

Sares Regis Group of Northern California and its affiliates, Regis Homes of Northern California and Regis Contractors of Northern California are regional companies based in San Mateo, California and are affiliated with Irvine-based Sares Regis Group. One of the leading developers and managers of commercial and residential real estate in the western United States, today the companies have more than 6.5 million square feet of commercial properties valued at $500 million and over 2,800 residential units under development. Sares Regis Group has a combined portfolio of property and fee-based management contracts valued at more than $4 billion, including 13,000 rental apartments and 15 million square feet of commercial and industrial space. Since its inception the company has acquired or developed approximately 44 million square feet of commercial properties and 19,000 multifamily and residential housing units.