(EDITOR’S NOTE: According to public records, the property was sold in September of 2019 for $13,125,000, or just over $148 per square foot.)
OAK BROOK, IL – CenterPoint Properties is proud to announce the acquisition of an 88,378-square-foot property at 425 Hester Street in San Leandro, California. The building is strategically located in the heart of San Leandro, with immediate access to Oakland International Airport and the freeway system.
“This investment is emblematic of our continued focus on the infill marketplace,” said Greg Pearson, CenterPoint Vice President of Investments. “As supply chains continue to evolve and reorient, we are confident these ‘micro-spoke’ positions will prove to be invaluable.”
The building features 11 dock-high doors, and a 1.3-acre excess yard that can accommodate 43 additional trailer/container positions.
“The building is a synergistic and strategic addition to our Northern California portfolio,” said Ryan Dunlap, CenterPoint Senior Vice President of Investments.
CenterPoint is actively acquiring and leasing industrial assets in the area. Just 4.5 miles northwest, CenterPoint recently acquired a 75,208-square-foot Class B cross-dock property located at 4601 Malat Street in Oakland, California.
In the acquisition of 425 Hester Street, CenterPoint was represented by Sam Higgins of Cushman & Wakefield. The seller was represented by Paul Beckwith of Cushman & Wakefield.
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.