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December 3, 2020
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East Bay Industrial/Office Asset Trades for $50 Mil


An institutional investor purchased a 267.5k sf, light industrial warehouse and office facility in the East Bay city of Richmond for $50.13 mil ($187/sf). The property, which is NNN-leased to a beverage distribution company, was sold by TJL Properties LP.

The property is situated on 12.29 acres at 700-702 National Court, which is an infill, last-mile location within the high barriers-to-entry Bay Area’s East Bay Industrial market. The property is less than 20 miles from San Francisco’s urban core and within a 90-minute drive to major air and seaports, including the Port of Oakland and San Francisco and Oakland and San Jose International Airports. Additionally, the property has easy access to Richmond Parkway and Interstate 580.

700-702 National Court is comprised of a 250.5k sf industrial warehouse and a 17k sf office building. The industrial property features a 22-foot clear height and 15 dock-high, two grade-level and four rail doors.

Ryan Sitov, Tony Beatty, Mark Detmer and Andie Fezell with JLL Capital Markets represented the seller. According to Beatty, the property’s central Bay Area location, freeway frontage and access to key transportation infrastructure will drive occupancy for the asset.

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