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Reyes Holdings Pays $140M for Richmond Industrial Property
In one of the largest industrial sales in the Bay Area this year, beverage and food company Reyes Holdings has purchased a 481,000-square-foot industrial building in Richmond, CA. Public records indicate the firm paid $140 million, or $290-per-square-foot, in acquiring the asset from Ares Management.
Located at 500 Pittsburg Ave., the facility sits of 28-acres and includes nearly 6,000 square feet of office space, parking for 55 trailers and 520 auto parking stalls. Additionally, the property is securely fenced. Colliers Todd Severson and Greig Lagomarsino represented the seller in the transaction.
The price tag makes the deal one of the largest property purchases in the East Bay in 2023. Richmond has become a popular city for industrial deals, including a February land purchase by Pell Development to develop two buildings totaling 325,000-square-feet. Reyes Holdings is based in Illinois and employs 34,000 people in 209 facilities around the world.
Image courtesy of Ares Management
- ◦Sale/Acquisition
