438,000 SF Value-Add Industrial
- Acquired November 2017 with Westbrook Partners.
- Property was 100% leased at acquisition with short-term below market leases in portion of the project and long-term leased to 21st Amendment Brewery as its headquarters. Property rehab and mark to market was completed in 2018. Subsequently sold to Blackstone in June 2019.
- The property was built in 1951 for Kellogg's Frosted Flakes operation and benefits from excellent power/water service and 'creative' industrial character with clerestory windows, barrell roofs and boardform concrete/steel construction. City of San Leandro Ale Trail is planned to connect existing tenant 21st Amendment Brewery to adjacent Drakes Brewery in Westgate property.
- Located in San Leandro submarket adjacent to the Port of Oakland, Oakland Airport, serviced by Rail and access via I-880 Marina exit.