CenterPoint Properties has acquired a last-mile facility at 2995 Atlas Road in Richmond, Calif.
The seller was LDK Ventures.
The 707,820-square-foot building is ideal for last-mile distribution, with a 32-foot clear-height, 151 dock-high doors, 15 drive-in doors and 157 trailer parking stalls. With a building depth of 475 feet and a truck court depth ranging from 130 feet to 180 feet, the site is configured to maximize the flow of goods. The combination of dock positions, parking and coverage makes this facility a notable addition to CenterPoint’s West Coast portfolio.
“The value proposition is about maintaining a bulk format in an infill environment,” said Greg Pearson, CenterPoint vice president of investments. “The inventory of undeveloped land in the I-880 Corridor cannot support future competition, which should create long-term pricing power and outsized appreciation,” finished Pearson.
CenterPoint’s latest acquisition is less than 20 mi
