(EDITOR’S NOTE: According to public documents filed with the county, the property sold for $8,008,000 in a transaction that closed on November 21, 2018.)
OAK BROOK, IL – CenterPoint Properties is proud to announce the acquisition of a 37,546 SF industrial warehouse located at 7801 Capwell Drive in Oakland, California. The property is 100% leased on a long-term basis to Webcor through December 2025. The asset was purchased off-market. CenterPoint was represented by Kate Woodcox of Cushman & Wakefield.
“This acquisition embodies our continued focus on low coverage assets, as they evolve into the infill prototype,” said Greg Pearson, Vice President of Investments at CenterPoint. “The building’s 1 per 2,900 SF dock high ratio, combined with 1.8 acres of yard, position the asset as one of the premier throughput facilities in the East Bay,” said Pearson.
The asset is located in the airport submarket with immediate access to I-880 via Hegenberger Road. 7801 Capwell Drive is situated at the crossroads of the port and airport, with immediate access to San Francisco. “Our appetite for gem boxes like Capwell continues to grow, and once again showcases our ability to transact on a smaller deal size,” said Ryan Dunlap, Senior Vice President of Investments.
Property features include 13 dock high doors, 1.8 acres of excess yard, 21’ clear height, 111’ truck court with concrete apron and 6,000 SF of office.
About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators, and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital, and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com or follow @centerpointprop on Twitter.