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February 25, 2024
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Moxion Power Leases 130k sf at Ford Point in Richmond


Moxion Power, a Y Combinator-backed, vertically integrated manufacturer of mobile energy storage systems, has inked a lease for 130k sf of space at Ford Point, a historic 478.8k sf Advanced Manufacturing and R&D industrial waterfront property in Richmond, CA. The lease represents a sizable expansion at the property for the Richmond-based company.

Abutting the San Francisco Bay, the landmark Ford Point project is located at 1414 Harbour Way South and is owned by New York-based Madison Capital, a leading real estate investment and operating company, and Meadow Partners, an institutional middle-market real estate investor. Madison capital and Meadow Partners acquired Ford Point in June 2022 for $103.7 mil.

Cushman & Wakefield’s Ted Anderson, Andrew Schmieder and Ryan Hattersley represented the landlord in the transaction. Moxion was represented by Mike Sample, Greg Matter and Patrick Metzger at Jones Lang LaSalle.

Anderson noted, “Ford Point will change tenant expectations regarding what a best-in-class R&D and manufacturing solution should look like and how it should function. The project combines unique features that cannot be found under a single roof. These include the building’s thoughtful construction and natural light propositions, waterfront views, off-street parking and yard, and quality dock and grade level loading capabilities delivered alongside scaled operating systems. It’s truly a Swiss Army Knife of a project, and it does everything well.”

The lease to Moxion brings the Ford Point facility to 100% leased, with other tenants including SunPower (NYSE:SPWR), Mountain Hardwear (NASDQ:COLM), California Closets, and more.

Ford Point’s distinct features include a brick façade, factory-style windows and skylights that allow for day-lit spaces, and a south facing sawtooth roof that houses a one-megawatt solar system. Located adjacent to the building is the recently completed Richmond Ferry terminal. Ford Point also provides views of San Francisco, the Bay Bridge, Oakland, and Berkeley.

The project’s previous owner, Orton Development, had completed a comprehensive, $40 mil renovation of the entire building, installing all new building systems and undertaking an extensive seismic upgrade. Since 2008, an additional $11.3 mil was invested in an upgraded roof, electric vehicle charging stations, asphalt repaving, and a one mega-watt rooftop solar system.

Designed in 1930 by renowned architect Albert Kahn, Ford Point was built as the Ford Motor Company Assembly Plant and was the largest assembly plant built on the West Coast at the time. Ford Point has been on the National Register of Historical places since 1988, and the site is home to a National Parks Services education center, known as the Rosie the Riveter Visitor Center.

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