Moxion Power leased its second location at Harbour Way South in Richmond in a deal with Brookfield Properties Management as the energy storage manufacturer looks to replace diesel generators with battery alternatives in homes, offices and hospitals.
The Ford Point site was once home to a 26.5-acre Ford Motor factory that produced cars until 1955 and tanks during World War II. Orton Development bought the closed facility in 2004 from the city of Richmond and spent $51.3 million redeveloping the former auto plant.
Moxion is leasing 164,204 square feet at a new 214,895-square-foot warehouse at the site, earning it a 2024 CoStar Impact Award for lease of the year for East Bay/Oakland, as judged by real estate professionals familiar with the market.
The property is in an industrial hotbed in the Bay Area and is surrounded by businesses focused on research and development. Ford Point is listed in the National Registry of Historical Places and in 2011 won the American Institute of Architects National Honor Award.
"The scale and amount of square footage leased by Moxion Power is impressive. As a second location for a manufacturing company it represents an opportunity to provide a range of jobs to the community," said Angela Tsui, economic development manager of the City of Walnut Creek.
About the Project: Moxion Power is leasing 164,204 square feet at the historical Ford Point in Richmond. The lease is valued at $41.7 million and expires in March 2033.
What the Judges Said: "I chose this nomination because it brought a manufacturer of zero emission, mobile battery storage to the historic and iconic Ford Point property. Due to high costs, manufacturing uses are not always kept in California, and this deal cemented their headquarters in the City of Richmond," said Chris Schofield, principal of Lee & Associates.
They Made it Happen: Mike Sample, managing director at JLL; Greg Matter, executive managing director at JLL; Patrick Metzger, executive vice president at JLL; Ryan Hattersley, vice chairman at Cushman & Wakefield; Ted Anderson, senior director at Cushman & Wakefield; and Andrew Schmieder, senior director at Cushman & Wakefield.
CoStar Market Manager Jordan Taylor contributed.