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11/05/24
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An affiliate of WPT Capital Advisors acquired a Class A, three-building, 517.9k sf industrial park in the Bay Area city of Richmond. The deal was financed with an $85 mil loan provided by PCCP LLC.
Built in 2015 and 2016, the property is located at 6000, 6015, and 6025 Giant Rd. It was 57% leased to two tenants at the time of sale.
The logistics property features 30-32’ clear heights, LED lighting, and ESFR sprinklers. It is within Pinole Point Business Park, a master-planned industrial park spanning 100 acres. The park encompasses 10 industrial buildings totaling 2.2 msf of Class A space.
Situated at the intersection of Atlas Rd and Giant Hwy, Pinole Point Business Park offers prime access to major interstate highways. Located in Richmond, the northernmost submarket of the 880-Corridor industrial market, the property is in an ideal location for same and next day delivery due to its proximity to major population centers in Marin County, the East Bay, and San Francisco.
The property is two miles from Interstate 80, five miles from Interstate 580, and provides access to the Richmond Bridge. Additionally, the Port of Oakland, the eighth busiest container port in the U.S., is less than 20 miles and Oakland International Airport, a hub for UPS and FedEx, is 26 miles from the property.
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