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

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.