Prologis Proposes Distribution Warehouse Near Oakland Airport

San Francisco-based Prologis plans to build a 250,000-square-foot industrial development in San Leandro, according to public records.

The proposed 250,744-square-foot building at 880 Doolittle Drive could replace a 213,000-square-foot industrial building currently at the site. Prologis acquired the San Leandro redevelopment property for $36.1 million in October 2018.

The seller was a joint venture between Parking Acquisition Ventures and an affiliate of Oz Real Estate.

The project, named Prologis San Leandro 33, includes two grade-level doors, 56 dock-high doors and a clear height of 32 feet.

On its website, Prologis said it plans to build a “high throughput distribution facility” that would reach 10 million consumers within 90 minutes in “one of the wealthiest regions in the world.”

The property is located in San Leandro’s General District, which is just off the 880 Freeway and a mile away from Oakland International Airport.

Prologis has made news lately both on the development front and for non-development deals. Earlier this year, the warehouse-focused REIT acquired Indianapolis-based logistics specialist Duke Realty in an all-stock purchase totaling $24 billion. With the deal, Prologis acquired more than 160 million square feet of industrial space across the U.S. Prologis currently controls 1 billion square feet of logistics space. The company said it will hold 94 percent of Duke’s portfolio and exit one market.

Earlier this Summer, Cedar Fair, a leader in regional amusement parks, sold the land at its California’s Great America property to Prologis for about $310 million in a transaction marketed by CBRE. The company will continue to operate the park for a period of up to 11 years and then will close existing park operations at the end of the lease term.

In July, Hamid Moghadam, the CEO of Prologis, was robbed at gunpoint outside of his Pacific Heights home in San Francisco. After the incident, he urged city leaders to make public safety their top priority.

“I recognize we live in an urban environment, but the level of crime, including violent behavior, has become absolutely unacceptable,” Moghadam wrote in a letter to San Francisco Mayor London Breed, the city’s Board of Supervisors and California Gov. Gavin Newsom.