CenterPoint Acquires Low-Coverage, Last-Mile Facility Near Port of Oakland
Posted By Staff Writers On June 3, 2019 @ 9:52 am
OAK BROOK, IL – CenterPoint Properties is proud to announce the strategic acquisition of a 75,208-square-foot Class B cross-dock property located at 4601 Malat Street in Oakland, California. This acquisition strengthens CenterPoint’s growing presence in the Oakland market, and represents the third East Bay acquisition over the past six months.
Spanning 3.9 acres, this low-coverage property is currently leased to two tenants. The asset is situated at the crossroads of infill distribution and the port complex. The building offers secured, excess loading with an ability to pave the northern yard, creating drive-around access and cross-dock activation.
“We’re thrilled to add this gem box to our East Bay portfolio,” said Ryan Dunlap, CenterPoint Senior Vice President of Investments. “The East Bay has historically been a very difficult market to penetrate with a finite amount of logistically advantaged buildings.”
Greg Pearson, CenterPoint Vice President of Investments, said: “This building perfectly complements our Port of Oakland development, and gives us an ability to bookend size ranges and price points for the Oakland market.” CenterPoint is currently under construction on 466,037 square feet at the Port of Oakland.
CenterPoint was represented by Mark Maguire and Justin Smutko of Colliers International.
About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn.