Amazon leases 204K sf in Pinole Point Commerce Center in Richmond

Amazon is expanding anew in the East Bay.

The e-commerce giant, which doubled its real estate holdings in 2021, leased 203,500 square feet of industrial space in the Pinole Point Commerce Center at 6045 Giant Highway in Richmond, the San Francisco Business Times reported. It’s less than a mile from two distribution centers, the 707,820-square-foot 2995 Atlas Road property and the 224,145-square-foot 6015 Giant Highway center.

Amazon hasn’t said what it will do with the new building. Pinole Point center’s advertising brochure says the property is equipped for warehouse, distribution or advanced manufacturing uses.

Texas-based Hines bought the property in May from Florida’s OneCorp Global for $52 million, making it Amazon’s third landlord in the city. A subsidiary of JLL owns the property at 6015 Giant Highway and Illinois-based CenterPoint Properties owns the one on Atlas Road.

The Seattle-based online retailer has been steadily expanding in the Bay Area. In May 2020, it leased a half-million square feet on West Winston Avenue in Hayward; in September 2020, it leased a 150,000-square-foot building in Oakley; and in April 2021, it leased 336,000 square feet for a delivery station at 5800 Coliseum Way in Oakland.

In December, Amazon also paid about $31 million — almost 20 percent more than the $26 million asking price — for 60 acres of agricultural land in Gilroy.

Richmond’s industrial sector had a 1 percent vacancy rate in the fourth quarter across industrial, warehouse and research and development uses, down from the 2.6 percent in the third quarter.

Richmond and the neighboring unincorporated community of North Richmond have become popular with industrial developers in recent years, prompting Contra Costa County supervisors to complete an almost year-long moratorium on fulfillment centers in North Richmond in an effort to keep the community from becoming “wall-to-wall warehouses.”

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[SFBT] — Victoria Pruitt