Richmond, Calif., May 11, 2015 – Colliers International announced today that KTR Capital Partners (www.ktrcapital.com) along with Sponsor Properties (www.sponsorproperties.com) completed a new long-term lease transaction with Williams-Sonoma Direct, Inc. (www.williams-sonoma.com) for Building 1 within Pinole Point, their master-planned industrial park situated on 30 acres of land in Richmond, CA. The development site allows for over ±515,000 Square feet of Class “A” warehouse/distribution and or manufacturing space comprised of three freestanding buildings ranging in size from approximately 40,000 square feet to 250,000 square feet.
Williams-Sonoma Direct, Inc. is currently located in Oakland and will be relocating and expanding into a ±252,375 square foot state-of-the-art warehouse/distribution building which is currently under construction and is expected to be completed before June of this year.
Williams-Sonoma’s new facility will feature over ±9,000 square feet of build-to-suit, executive office space, ESFR sprinklers, 32’ minimum interior ceiling clearance, 53 dock-high loading doors, secure yard areas and large truck courts.
The multi-channel specialty retailer of quality home products will be joining Whole Foods Market in Phase II of Pinole Point’s development. Whole Foods Market leased a ±117,200 square foot build-to-suit freezer/cooler warehouse in 2012.
Pinole Point Phase I is currently 100% leased to tenants such as Restoration Hardware, Serena & Lily, Broadline Medical, International Delicacies and Bio-Rad Laboratories. The business park is strategically located in a highly sought after Bay Area in-fill location near Interstates 80 and 580 providing convenient access to the Bay Area’s three international airports and the ports of Oakland and Richmond.
Sares-Regis Group purchased the business park from a developer, Pinole Point Properties, Inc., in May of 2008. They acquired three buildings at Pinole Point Business Park along with 43 acres of adjacent developable land for future build-to-suit developments.
In 2010, Industrial Income Trust acquired a ±721,204 square foot portfolio from Sares-Regis Group. The three industrial buildings totaling ±474,754 square feet at Pinole Point Business Park Phase I were included in that portfolio along with a forth building of ±246,450 square feet located in Fremont’s Bayside Business Park. Sares-Regis Group retained the ±43 acres of land at Pinole Point and completed the ±117,200 square foot build-to-suit for Whole Foods Market before selling the leased cold storage facility to MMB Management, LLC soon after construction was completed. KTR Capital Partners acquired Pinole Point Phase II from Sares-Regis Group in 2014. KTR and Sponsor Properties were brought together by Sacramento based Preferred Capital Advisors to develop the vacant land in Phase II into a state-of-the-art industrial park.
Building 2, a ±224,154 square foot warehouse/distribution building will be complete this month. Construction on Building 3, a planned ±41,365 square foot warehouse/distribution building will commence later this year.
Greig Lagomarsino, SIOR and Todd Severson, SIOR of Colliers International’s Oakland office represented the Landlord and Greig Lagomarsino along with Gene Woods, SIOR of Colliers International’s Memphis office represented the Tenant in this transaction
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