One of Bay Area’s largest distribution centers sold in Richmond

0
3204
One of Bay Area’s largest distribution centers sold in Richmond
San Francisco Bay Area Logistics Center, 2995 Atlas Rd. (courtesy of LDK Ventures)

By Kathy Chouteau

One of the largest distribution centers in the Bay Area, currently occupied by Amazon, has been sold in Richmond.

LDK Ventures recently sold its 707,820 square-foot San Francisco Bay Area Logistics Center, situated at 2995 Atlas Rd., to CenterPoint Properties.

Amazon is currently leasing the entire space, part of a Bay Area expansion, the San Francisco Business Times reported in May. The company is also advertising jobs at the location. LDK Ventures did not confirm Amazon’s tenancy, but a company spokesperson did state the space is “100 percent leased by a credit tenant and the sale will not impact their tenancy.” The recently sold facility is located directly next to a second Amazon warehouse.

LDK Ventures, a Sacramento-based real estate development and investment company, initially acquired the 42-acre “brownfield” site in 2014 and eventually finalized construction on the Class A warehouse space in 2018.

According to LDK Ventures, the property features include a 32’ clear-height, 151 dock-high doors and 157 trailer parking stalls. It has a bay depth of 475’ and a truck court depth ranging from 130’ to 180’.

“We saw a great deal of potential in the site as a last-mile solution for large-scale distribution companies,” said Denton Kelley, principal of LDK Ventures. “We’re pleased that CenterPoint recognizes the value that this facility holds for its West Coast portfolio.”

The sale of the San Francisco Bay Area Logistics Center was coordinated by Cushman & Wakefield Northern California.