Oakland, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has brokered a purchase for Highridge Provender LLC, a Southern California-based real estate investment firm.
In response to the growing demand for freezer distribution buildings in the Bay Area, Avison Young facilitated the purchase of 2041 Factory Street in Richmond, CA, a class A 109,594- square-foot (sf) industrial freezer property situated on 7.62 acres.
This transaction marks Avison Young’s first purchase for Highridge Provender. Avison Young Principal Kevin Ahaesy and associate JW Krumpholz, who specialize in the sale and leasing of industrial properties throughout Northern California, brokered the transaction.
The property is located directly off I-580 and ranks as one of the newest freezer buildings available in Northern California. The building was originally built in 2000, underwent an expansion in 2005, and boasts a 47-foot clear-height ceiling; large dock staging areas; abundant trailer storage; and the ability to expand the existing footprint by 50,000 sf.
In addition, the building has the capacity to store upwards of 10 million pounds of product on up to 9,012 palette positions. The building offers fully insulated floors, a 100-foot deep refrigerated staging area, and a U.S. Department of Agriculture (USDA) room on site.
The building is currently vacant and being marketed for lease on behalf of Highridge Provender by Ahaesy and Krumpholz.
“This is the best freezer building available for lease in Northern California and has already generated a large amount of interest from prospective tenants,” comments Ahaesy. “The number of food related companies looking for temperature controlled warehouse space close to major metropolitan Bay Area markets has significantly increased over the last 12 months. With that in mind, the timing of this acquisition by Highridge Provender makes a lot of sense.”
About Avison Young
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,700 real estate professionals in 62 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi- family properties.