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1414 Harbour Way S, Richmon...

Updated Dec 4, 2024

Madison Capital Acquires Mixed-Use Property From Orton Development In Richmond For $103.7M
SOLDMixed-use

Madison Capital Acquires Mixed-Use Property From Orton Development In Richmond For $103.7M

1414 Harbour Way S, Richmond, CA, 9...

$103,700,000

$216/SF

Building Size

478,761 SF

Asset Type

Mixed-use

Closing

Nov 22, 2023

About this deal

AI

The creative R&D building located at 1414 Harbour Way S in Richmond, CA, known as Ford Point, was sold for $103.7 million. The property spans 478,761 square feet and was 83 percent leased at the time of sale. The seller, Orton Development, completed a $40 million renovation on the site, which was originally built in 1930 as the Ford Motor Co. Assembly Plant. Notably, the building is listed on the National Register of Historical Places and houses the Rosie the Riveter Visitor Center.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $103,700,000.00
  • Buyer: Madison Capital
  • Seller: Orton Development
  • Seller's Rep: Ryan Fitzpatrick (The Corcoran Group)
  • SF: 478,761
  • Tenants: SunPower, Mountain Hardwear, California Closets

Cushman & Wakefield's Northern California Capital Markets Group, comprising Seth Siegel, Steve Hermann, Ryan Venezia, Rick Ryan, Kevin Flemming, and Courtney Trunnell, represented the seller in the deal. Additionally, Keith Padien of Cushman & Wakefield facilitated the acquisition financing for Orton Development, while Ted Anderson, Andrew Schmieder, and Ryan Hattersley of Cushman & Wakefield have been tasked with leasing the property.

On the Map

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$103,700,000

$216/SF

Mixed-use

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Players

Ryan Fitzpatrick

The Corcoran Group

Broker

$382.5M

vol

4 deals

Broker
Madison Capital Group
Madison Capital GroupBuyer
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Richmond Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $216 per square foot on a published $103.7M for 478,761 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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