OAK BROOK, IL – CenterPoint Properties announced the acquisition of an 88,378-square-foot property at 425 Hester Street in San Leandro, California. The building is strategically located in the heart of San Leandro, with immediate access to Oakland International Airport and the freeway system.
“This investment is emblematic of our continued focus on the infill marketplace,” said Greg Pearson, CenterPoint Vice President of Investments. “As supply chains continue to evolve and reorient, we are confident these ‘micro-spoke’ positions will prove to be invaluable.”
“The building is a synergistic and strategic addition to our Northern California portfolio,” said Ryan Dunlap, CenterPoint Senior Vice President of Investments.
CenterPoint is actively acquiring and leasing industrial assets in the area. Just 4.5 miles northwest, CenterPoint recently acquired a 75,208-square-foot Class B cross-dock property located at 4601 Malat Street in Oakland, California.
In the acquisition of 425 Hester Street, CenterPoint was represented by Sam Higgins of Cushman & Wakefield. The seller was represented by Paul Beckwith of Cushman & Wakefield.
