CenterPoint Properties Nabs Northern California Facility
- Sep 18, 2019
CenterPoint Properties has grown its portfolio with the acquisition of an 88,378-square-foot industrial infill facility in San Leandro, Calif. Cushman & Wakefield arranged the transaction and represented both the seller and the buyer. The building is leased to Mi Rancho.
Strategically located at 425 Hester St., the facility is in the heart of San Leandro alongside Freeway 112. Additionally, the property is near Interstate 880, roughly one mile from the Oakland International Airport and within 9 miles of downtown Oakland. Characteristics of the building include 11 dock-high doors and a 1.3-acre excess yard that can accommodate 43 trailer and container positions.
“The combination of loading and excess yard has positioned the facility as a premier throughput asset in the Bay Area,” CenterPoint’s Vice President of Investments Greg Pearson told Commercial Property Executive.
In June, CenterPoint Properties broke ground on a two-building industrial and distribution facility totaling 296,207 square feet in Hollywood, Fla.