Cushman & Wakefield has advised on the $104 million sale of Ford Point, a historic 479,000-square-foot creative R&D industrial property in Richmond, CA. The asset was 83% leased at the time of sale to strong corporate tenants including Sun Power, Mountain Hardware and California Closets.
Cushman & Wakefield’s Northern California Markets Group represented the seller, Orton Development and Cushman & Wakefield also arranged financing for the buyer and will lease the project as well.
“Ford Point is a spectacular asset and model of urban revitalization and is truly a one-of-a-kind Bay Area Landmark,” said Cushman & Wakefield’s Seth Siegel. “This important Bay Area treasure has been a labor of love for the Orton Development team from the time they purchased it in 2004.”
Designed in 1930, Ford Point was built as the Ford Motor Assembly Plant, the largest on the West Coast. It has been on the National Register of Historical places since 1988 and is home to the Rosie the Riveter Visitor Center.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.