Ford Point, a landmark 478,761-square-foot Advanced Manufacturing and R&D industrial waterfront property in Richmond, California has leased 130,000 square feet to Moxion Power, a Y Combinator backed, vertically integrated manufacturer of mobile energy storage systems. The lease represents a sizable expansion at the property for the Richmond-based company.
Abutting the San Francisco Bay, the landmark Ford Point project is located at 1414 Harbour Way South and is owned by New York-based Madison Capital, a leading real estate investment and operating company, and Meadow Partners, an institutional middle-market real estate investor. Madison capital and Meadow Partners acquired Ford Point in June 2022 for US $103.7 million.
“We are thrilled to provide R&D and advanced manufacturing space to Moxion in support of their continued growth at Ford Point. Our new tenant improvement program at the property is designed to provide tenants with the resources necessary to tailor this great building to their specific needs,” says Brian Riggle, Senior Vice President of Madison Capital.
Jeffrey Kaplan, managing partner of Meadow Partners, adds, “This significant lease with Moxion is a testament to one-of-a-kind features Ford Point offers its tenants as well as the strong demand Meadow Partners has identified for flexible industrial spaces proximate to large cities, such as San Francisco. We are excited to support Moxion’s expansion at the project and to complete leasing at Ford Point with Cushman & Wakefield.”
Cushman & Wakefield managing director Ted Anderson represented the landlord in the transaction, supported by colleagues Andrew Schmieder and Ryan Hattersley. Moxion was represented by Mike Sample, Greg Matter and Patrick Metzger at Jones Lang LaSalle.
Anderson says, “Ford Point will change tenant expectations regarding what a best-in-class R&D and manufacturing solution should look like and how it should function. The project combines unique features that cannot be found under a single roof. These include the building’s thoughtful construction and natural light propositions, waterfront views, off-street parking and yard, and quality dock and grade level loading capabilities delivered alongside scaled operating systems. It’s truly a Swiss Army Knife of a project, and it does everything well.”
Following the signing of the new lease, Ford Point is now fully leased with some of the other tenants including SunPower (NYSE:SPWR), Mountain Hardwear (NASDQ:COLM) and California Closets.
Ford Point’s distinct features include a brick façade, factory-style windows and skylights that allow for day-lit spaces, and a south facing sawtooth roof that houses a one-megawatt solar system. Located adjacent to the building is the recently completed Richmond Ferry terminal. Ford Point also provides views of San Francisco, the Bay Bridge, Oakland, and Berkeley.
The project’s previous owner, Orton Development, had completed a comprehensive, US $40 million renovation of the entire building, installing all new building systems and undertaking an extensive seismic upgrade. Since 2008, an additional US $11.3 million was invested in an upgraded roof, electric vehicle charging stations, asphalt repaving, and a one mega-watt rooftop solar system.
Designed in 1930 by renowned architect Albert Kahn, Ford Point was built as the Ford Motor Company Assembly Plant and was the largest assembly plant built on the West Coast at the time. Ford Point has been on the National Register of Historical places since 1988, and the site is home to a National Parks Services education center, known as the Rosie the Riveter Visitor Center. Visit www.ford-point.com for additional information.