Home News Historic East Bay waterside complex is bought for $100 million-plus

Historic East Bay waterside complex is bought for $100 million-plus

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Richmond — Ford Point, a vast technology and creative complex on the coastline of Richmond, a historic site that was once an auto assembly plant, was acquired by a large investor from New York.

Madison Capital and Meadow Partners have paid $ 103.7 million for Ford Motor Company’s former car-making property.

Orton Development purchased a collapsing complex from the city of Richmond in 2004 and began a major redevelopment of the property. This is a series of efforts, including complete seismic retrofitting of sites severely damaged by the 1989 Romaprieta earthquake.

According to Orton Development, the 517,000-square-foot landmark complex is located on Richmond’s 1414 Harbor Way S, offering dramatic views of the bay.

Cushman & Wakefield brokers Seth Siegel, Steve Herrman, Ryan Venezia, Rick Ryan, Kevin Fleming and Courtney Trannel represented the sellers of the transaction. Keith Padien, a Cushman & Wakefield broker, has arranged to finance the purchase on behalf of the buyer.

Siegel, Executive Managing Director of Cushman & Wakefield, said: “This important historic Bay Area treasure has been a loving job for the Orton development team since it was purchased.”

Orton Development has invested $ 51.3 million in a series of car factory refurbishments. For decades, the factory produced cars until it was closed in 1955. During World War II, car factories produced tanks for the war.

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