(EDITOR’S NOTE: According to public documents, the property was sold on October 16, 2019 for $25,015,000, or just over $191 per square foot.)
OAK BROOK, IL – CenterPoint Properties is proud to announce the acquisition of a 130,513-square-foot property situated on 6.8 acres at 5901 San Leandro Street in Oakland, California. Located in the heavy-haul corridor, the asset is less than one mile from the I-880 interchange and just 5.6 miles from the Port of Oakland.
“The combination of port and city proximity position the building at the crossroads of e-commerce and port logistics,” said Ryan Dunlap, CenterPoint Senior Vice President of Investments.
The asset offers secured, excess loading with heavy-haul capability and a controlled, fully lit intersection. There is also the unique opportunity to add Union Pacific rail service.
“Buildings with modern logistics features rarely become available in the heavy-haul corridor, let alone Oakland,” said Greg Pearson, CenterPoint Vice President of Investments. “We are thrilled to grow our footprint in Oakland.”
Additional property features include a secured 200‛ truck court, an above market loading ratio and clear heights ranging from 22‛ to 24‛.
In the acquisition of 5901 San Leandro Street, CenterPoint was represented by Mark Maguire, Justin Smutko and Nick Mascheroni of Colliers International.
This transaction comes on the heels of another East Bay acquisition in San Leandro, California as CenterPoint continues to grow its industrial portfolio on the West Coast. CenterPoint has acquired five buildings in East Bay over the past year.
For acquisition opportunities, please contact Ryan Dunlap or Greg Pearson
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.