Bay Area Logistics Center in Richmond, CA
LDK Ventures purchased the 42-acre site located at 2995 Atlas Rd. in Richmond, CA in March 2014. The property, which was a former steel galvanizing plant, had historical contamination issues with no financially substantive responsible party to ensure the completion of the remediation required for industrial development to progress. LDK purchased the property with a creative remediation structure that solved for the concerns of all the involved stakeholders. LDK obtained an NFA on the soils and ground water from the Bay Area Regional Water Quality Control Board. LDK entitled the site with the requisite CEQA studies and City approval for a 707,000 sf distribution facility (which is the largest industrial building built in the Bay Area in recent years). The building was completed in September 2018.
The building was fully leased to a credit tenant and sold the building in October 2020.