RICHMOND, CALIF. — KTR Capital Partners and Sponsor Properties have acquired Pinole Point, a master-planned industrial park in Richmond, for an undisclosed sum. The three-building park is located atthe intersection of Atlas Road and Giant Highway near the Bay Area. It allows for more than 515,000 square feet of Class A warehouse/distribution and manufacturing space.
The land is fully entitled and ready for construction. The groundbreaking is scheduled for this summer. Pinole Point Phase I is currently 100 percent leased to tenants like Restoration Hardware, Serena & Lily, Broadline Medical, International Delicacies and Bio-Rad Laboratories.
Sponsor Properties and KTR were brought together by Preferred Capital Advisors. Greig Lagomarsino of Colliers International’s Oakland office represented both the buyer and seller, Sares-Regis Group, in this transaction. Todd Severson of the same firm assisted with this transaction. Lagomarsino and Severson will serve as the park’s exclusive leasing agents.