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\n An industrial and logistics building in Oakland’s Airport Business Park was acquired for $112.5M.\n <\/p>\n
WPT Capital Advisors\u00a0purchased the 375K SF Oakland Logistics Center<\/a> at the corners of Pardee Drive and Swan Lane in Oakland for $112.5M.<\/p>\n The property on 18.6 acres was built in 2014 by Birtcher Development<\/a> and Investments LLC and houses paint manufacturer Benjamin Moore\u2019s Oakland distribution center, with two commercial spaces available for lease.<\/p>\n Bentall Kennedy<\/a>, which in 2019 merged with GreenOak Real Estate<\/a> to form BGO<\/a>, purchased the building in 2015, The Registry reported<\/a>.<\/p>\n The property, located within the footprint of Oakland\u2019s Airport Business Park, sold for 53% more than its assessed value of $73.4M, The Mercury News reported. PGIM Real Estate Finance<\/a>\u00a0provided WPT Capital Advisors with a $67.6M loan for the acquisition.<\/p>\n The Oakland industrial<\/a> corridor, which comprises more than 127M SF, had an overall vacancy rate of 7.1% at the end of Q4 2025, according to\u00a0CBRE<\/a>. That\u2019s up from 5.8% in the same quarter in 2024 and nearly double the vacancy rate of 3.8% two years prior, CBRE noted.<\/p>\n Overall asking lease rates, however, have held relatively steady during that span, ticking down to $1.31 per SF on a full-service basis versus $1.38 per SF in 2023.<\/p>\n