RICHMOND — A beverage and meals distribution titan with a world attain has purchased an enormous Richmond industrial heart for greater than $100 million in an actual property deal that might deliver extra jobs to the East Bay.
Illinois-based Reyes Holdings, performing by an affiliate, has purchased a warehouse and logistics advanced at 500 Pittsburg Avenue, paperwork filed on March 3 with the Contra Costa County Recorder’s Workplace present.
The Reyes Holdings affiliate paid $140 million for the distribution heart, the county data present.
At that value, the transaction seems to be one of many largest property purchases by greenback quantity within the East Bay up to now in 2023.
The deal was organized by brokers Todd Severson and Greig Lagomarsino of Colliers, a business actual property agency; and JLL, a business actual property agency.
Ares Administration, a agency that invests in actual property and different property on behalf of huge shoppers, offered the distribution and warehouse heart to the Reyes Holdings affiliate, in accordance with the general public data.
The constructing totals 481,500 sq. toes and is situated on the nook of Pittsburg Avenue and Richmond Parkway, a advertising flyer distributed by Colliers reveals.
Richmond Distribution Heart 3 is a roughly 25-minute drive from the Port of Oakland.
Richmond has change into one thing of a hotbed for actual property buyers which might be looking for massive websites in prime places to buy, together with the just-bought Richmond Distribution Heart.
Among the many different current massive acquisitions in Richmond:
- Ford Level was purchased for $103.7 million in June 2022 by an alliance of buyers from New York. The tech and artistic house advanced on the Richmond waterfront at 1414 Harbour Means South totals 517,000 sq. toes.
- About 20.7 acres of land at 177 Parr Boulevard in Richmond was purchased for $115.2 million in February by San Rafael-based Pell Growth. The positioning has been permitted for the event of two warehouse and logistics buildings that collectively would whole 325,000 sq. toes as soon as full.
With its buy of the Richmond Distribution Heart 3, Reyes Holdings owns a contemporary industrial heart the place doubtlessly a whole bunch might work.
Reyes Holdings generates at current about $40 billion in income, in accordance with a publish on the web site of the privately held firm. The corporate employs about 34,000 folks and operates in 209 amenities worldwide.
The corporate’s subsidiaries embody Reyes Beverage Group, the nation’s largest beer distributor; Martin Brower, McDonald’s largest international distributor; and Reyes Coca-Cola Bottling, a bottler and distributor that operates within the Midwest and on the West Coast. Reyes Beverage Group operates a web site in South San Jose.
Reyes Holdings additionally supplies distribution for different high-profile manufacturers comparable to Modelo beer, Coors Mild beer, Chipotle, Monster Vitality, Corona Additional, and Chick-fil-A.
A number of hundred folks might work on the Richmond advanced now owned by Reyes Holdings. A brochure for the property states that the location has 520 car parking areas, together with parking for 55 truck trailers.