Colliers International is pleased to announce a Lease Investment Sale in Pinole Point Business Park, Richmond., CA. Sares Regis Group (“Seller”) sold the newly constructed build-to-suit building to a trade buyer. MMB Management LLC, (“Buyer”) purchased the fully-leased property for an undisclosed amount.
The +/-10.20 acre site serves as the Northern California Distribution Center for Austin-based Whole Foods (www.wholefoods.com). The property includes a +/-117,200 square foot-build-to-suit, state-of-the-art, free standing freezer/cooler facility warehouse/distribution facility with 45’ clear height.
Whole Foods 15 year lease reflects their continued growth in the Bay Area. “Whole Foods searched for more than six years for a location for their Northern California Distribution Center. They choose Pinole Point Park due to its central location to their Bay Area stores”, said Todd Severson, SIOR. Whole Foods has 31 stores in the Bay Area with new stores opening in Alameda, Fremont, San Jose and San Francisco.
Other notable corporate neighbors in the Pinole Point Business Park include Restoration Hardware, Sears, Inc., FBA Holdings, Serena & Lily, Inc., Bio-Rad Laboratories, Broadline Medical Systems, International Delicacies, and UPS.
Phase II, III Master Plan allows for over +/-900,000 square feet of warehouse/distribution and/or manufacturing space. Phase II land is approved and entitled and is ready for construction immediately.
Greig Lagomarsino, SIOR, Senior Vice President and Todd Severson, SIOR, Senior Vice President both with Colliers International in Oakland represented the seller Richmond Pinole Point, Industrial, LLC.
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Colliers International is a global leader in commercial real estate services, with over 13,500 professionals operating out of more than 482 offices in 62 countries. A subsidiary of FirstService Corporation, Colliers International delivers a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.