Madison Capital and Meadow Partners have acquired Ford Point, an historic 478,761-square-foot waterfront research & development (R&D) asset in Richmond, Calif., from owner/developer Orton Development for $103.7 million.
Located at 1414 Harbour Way S, the property was 83 percent leased at sale to corporate tenants.
Designed in 1930 by architect Albert Kahn, Ford Point was built as the Ford Motor Company Assembly Plant. Ford Point has been on the National Register of Historical places since 1988, and the site is home to a National Parks Services education center.
Orton Development purchased the site in 2004 and began a comprehensive $40 million renovation of the building. Since 2008, $11.3 million more has been invested in the property.
“Ford Point is a spectacular asset and model of urban revitalization and is truly a one-of-a-kind San Francisco Bay Area landmark. The Orton team has done a fantastic job on the rehabilitation and lease-up of Ford
