It's hard to tell where Emeryville stops and Oakland starts. Horton is very close to the San Francisco Bay, and the area is filled with industrial buildings converted to lofts, stores, and upscale restaurants. The Oakland address could be very close to the Horton Street address.
Thanks for calling that out. I can see now where there is not a clean line in the city references.
A 1938-1939 catalog notes the following addresses:
General Sales Office - 1475 Bush Street, San Fran
Oakland Warehouse and Store - 392 24th Street, Holliday
Manufactoring Plant - 5321 Horton Street, Emeryville
Los Angeles Sales (Thorsen Tool Co. of Souther Calif.) - 1352 South Flower Street, Los Angeles
The 1958 brochure that Lauver brought to the table notes the address as: 5325 Horton Street, Oakland.
Below is a map putting it all in a little better perspective relative to each other: