Trending
PCC Logistics leases 460k sf from CenterPoint Port of Oakland
CenterPoint invested $52 million in developing the site with the Port of Oakland
PCC Logistics signed a 10-year lease with CenterPoint Properties to take over a 460,000 square-foot industrial space in the Port of Oakland.
The logistics company will occupy a 27-acre site named CenterPoint Landing at 1300 Maritime St. near the San Francisco-Oakland Bay Bridge. The site has a 2,800-square-foot office, 148 loading docks and parking for 301 automobiles and 69 trailers, according to a brochure for the site.
KBC Advisors NorCal’s Sam Higgins represented PCC Logistics while JLL’s Jason Ovadia and Patrick Metzger represented CenterPoint. Higgins declined to disclose financial terms of the lease.
CenterPoint and the Port of Oakland developed the Seaport Logistics Complex at the site of the decommissioned Oakland Army Base. The developer had invested $52 million toward the site. CenterPoint Landing is part of the first phase of the complex, which will eventually encompass almost 180 acres. The company began developing the site without a tenant.
“There is enough confidence in this community, in this port operation, that they are starting construction with the full confidence that the right tenant will come along, and that we’re going to attract an even better tenant when they can see what is going to be here,” Oakland Mayor Libby Schaaf said at the groundbreaking in 2019.
CenterPoint, which specializes in industrial real estate, has been acquiring properties in the Bay Area and California at a steady pace.
In December, it bought two fully leased industrial buildings totaling about 208,000 square feet at 41099 Boyce Road in Fremont for $88 million from Moishe Mana, who is among Miami’s biggest property owners. CenterPoint also bought a Los Angeles warehouse from Mana in September for $63 million. The company also spent nearly $11 million in November for three industrial buildings in Hayward in the East Bay that total 45,000 square feet.