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 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.
To date, LDK has obtained an NFA on the soils from the Bay Area Regional Water Quality Control Board. Since the acquisition, 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.
LDK Ventures sold the building fully leased to a credit tenant in October 2020.
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