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Moxion Power, a Y Combinator-backed mobile energy storage systems manufacturer, leased a 130K SF industrial space at the Ford Point manufacturing and industrial project in Richmond, California.
Ford Point was renovated by its previous owner, Orton Development, which spent $40M adding new building systems and upgrading seismic capabilities. The Moxion Power lease brings the property, at 1414 Harbour Way South, to 100% leased.
Cushman & Wakefield handled the leasing agreement for the 478K SF Ford Point. Madison Capital and Meadow Partners purchased Fort Point in June for $103M.
“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,” Madison Capital Senior Vice President Brian Riggle said in a press release.
Industrial development and acquisitions have been a hot commodity across the San Francisco Bay Area, with the East Bay seeing low vacancy rates as industrial supply shrinks, pushing demand outward from Oakland and into other parts of the Bay Area.
DCG Fulfillment, for example, recently signed a 306K SF industrial lease in Lathrop, near the Port of Oakland.
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