{"id":1004586346,"date":"2022-06-17T03:38:43","date_gmt":"2022-06-17T11:38:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004586346"},"modified":"2022-12-07T17:32:38","modified_gmt":"2022-12-08T01:32:38","slug":"former-ford-industrial-asset-commands-104m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/","title":{"rendered":"Historic Ford Industrial Asset Commands $104M"},"content":{"rendered":"
\"\"<\/a>

Ford Point. Image courtesy of Cushman & Wakefield<\/p><\/div>\n

A partnership between Madison Capital<\/strong> and Meadow Partners<\/strong> has acquired Ford Point, a historic 478,761-square-foot industrial property in Richmond, Calif., for $103.7 million. Orton Development<\/strong> sold the asset after an almost two-decade ownership. In 2004, Orton purchased the waterfront facility and, since then, the company has invested a total of $51.3 million in renovations and upgrades.<\/p>\n

The new owners were interested in this investment due to the property\u2019s location, high ceiling heights, robust power supply and ample parking area, seeking to create a dynamic R&D facility in this fast-growing East Bay submarket. The supply-constrained R&D market will likely attract innovative tenants at the property, according to a prepared statement from Jonathan Nachman, managing director & head of acquisitions at Madison Capital.<\/p>\n

At the time of the sale, Ford Point was 83 percent leased to a corporate tenant roaster that included Mountain Hardwear, SunPower, California Closets, Best Line and Ekso Bionics, among others.<\/p>\n

Executive Managing Directors Seth Siegel and Steve Hermann, Managing Director Ryan Venezia and Executive Director Rick Ryan, alongside Directors Kevin Flemming and Courtney Trunnell of Cushman & Wakefield<\/strong>\u2019s Northern California Capital Markets Group represented the seller in the transaction. Siegel also assisted Madison Capital and PGIM last year in the sale of 360 Spear, a 173,907-square-foot property<\/a> in San Francisco, which traded for $165.5 million.<\/p>\n

Executive Managing Director Keith Padien arranged the financing, whereas Executive Managing Director Ryan Hattersley, along with Directors Ted Anderson and Andrew Schmieder, will handle leasing efforts at the property.<\/p>\n

A historic East Bay landmark<\/h2>\n

Originally designed by architect Albert Kahn and built in 1930 as a Ford Motor Co. assembly plant, Ford Point spans almost 23 acres and comprises a Class B, two-story building with floorplates that vary from 161,000 square feet to 316,000 square feet, a brick fa\u00e7ade, factory-style windows, as well as 1,908 parking spaces. Throughout the years, Orton renovated the entire building by upgrading the roof and adding electric vehicle charging stations, as well as a one-megawatt solar system.<\/p>\n

Located at 1414 Harbour Way S., the property is within walking distance of the Richmond Ferry terminal and less than a mile of Interstate 580. Ford Point provides views of San Francisco, the Bay Bridge and Oakland, all within a mile of several dining and retail options.<\/p>\n","protected":false},"excerpt":{"rendered":"

Orton Development sold the East Bay-area property after almost two decades. <\/p>\n","protected":false},"author":2703,"featured_media":1004586348,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21748,21783,21742,1609,15],"tags":[32799,45377,32981],"class_list":["post-1004586346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-industrial","category-investment","category-latest","category-san-francisco","category-west","tag-cushman-wakefield","tag-madison-capital-group","tag-meadow-partners"],"acf":[],"yoast_head":"\nHistoric Ford Industrial Asset Commands $104M - CPE<\/title>\n<meta name=\"description\" content=\"Madison Capital and Meadow Partners acquired Ford Point, a 761,000-square-foot waterfront industrial asset in Richmond, Calif.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Historic Ford Industrial Asset Commands $104M\" \/>\n<meta property=\"og:description\" content=\"Madison Capital and Meadow Partners acquired Ford Point, a 761,000-square-foot waterfront industrial asset in Richmond, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-17T11:38:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T01:32:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Ford_Point-e1655461545952.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1047\" \/>\n\t<meta property=\"og:image:height\" content=\"786\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Olivia Bunescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/\",\"name\":\"Historic Ford Industrial Asset Commands $104M - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Ford_Point-e1655461545952.jpg\",\"datePublished\":\"2022-06-17T11:38:43+00:00\",\"dateModified\":\"2022-12-08T01:32:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/e669e9a17e844dd3b8eb8f41b5d890c9\"},\"description\":\"Madison Capital and Meadow Partners acquired Ford Point, a 761,000-square-foot waterfront industrial asset in Richmond, Calif.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/former-ford-industrial-asset-commands-104m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Ford_Point-e1655461545952.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Ford_Point-e1655461545952.jpg\",\"width\":1047,\"height\":786,\"caption\":\"Ford Point. 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