830-848 San Pablo Avenue, Pinole, CA 94564

Pinole Shores Phase II

Attributes

Land area gross

2.99 ha

Zoning

Office Industrial Mix Use (OIMU) - (Proposed)

Description

Jones Lang LaSalle America’s Inc., (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the fee-simple interest of Pinole Shores, an existing 7.39 acre land site (the “Site”). The Site, located in the City of Pinole, an East Bay submarket, is an unimproved infill parcel and offers a rare chance to develop a brand new ±118,000 SF Class A industrial property with modern specs. The Site is fully entitled and provides regional connectivity to the Port of Oakland, the Port of Richmond, Oakland International Airport, San Francisco International Airport, and the broader Bay Area via major highways I-80, I-580, and CA-4.

The Site, currently zoned Office Industrial Mix Use (OIMU), offers a range of uses, including light industrial services such as light manufacturing, R&D, wholesale/distribution, storage facilities & development.

The San Francisco Bay Area is seeing robust tenant demand for industrial buildings to the magnitude of 16.3M SF of tenant leasing requirements, over 10.4M of which is exclusively focused on the East Bay. This demand is largely comprised of users in Manufacturing, Automobiles, Logistics & Distribution, Food/Beverage and Healthcare. As the demand for industrial properties continues to rise, this one-of-a-kind infill investment opportunity offers investors the chance to secure a unique and highly desirable Site in one of the most sought-after industrial pockets across the country.

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Investment Highlights

Rare Fully-Entitled Class A Development Opportunity
The Site is fully-entitled on ±321,780 square feet of land (±7.39 acres), with access on San Pablo Avenue.
Given the infrequent cadence at which land sites become available to developers and the lengthy construction timelines, the average building age in the Bay Area continues to climb. Given the imbalance between tenant demand and lack of new supply, this new development will garner signiﬁcant tenant interest.
Strategic Infill Core Bay Area Location Positioned for West Coast Distribution
The Site is located less than three miles from I-80, I-580, and CA-4, providing access to greater Northern California. The Site is a short 30-45 minute drive from the Oakland International Airport, and less than 20 miles from the Port of Oakland and BNSF Oakland Intermodal.
Within a 15-mile drive from the Site, tenants can reach 1.2 million people or 480K households. Moreover, the Site offers easy connectivity to over 30,000 establishments, providing last-mile capabilities to both affluent consumers and local businesses.
Ample and Affordable Industrial Work Force
The Pinole/Richmond area offers a relatively lower cost of living compared to other cities in the East Bay. More than 20% of surrounding residents work in manufacturing, transportation, or warehousing allowing tenants at the Property to attract employees at affordable wages.
Demand Increasing for Infill Industrial Space
Consumers continuously expect shorter delivery windows, adding pressure for companies to lower delivery time via more distribution space near their customers.
High Barriers to Entry
The East Bay is one of the most difficult development markets in the US. Due to CEQA, land constraints, and entitlement headwinds, which drive up development costs, there is little risk for oversupply in Northern California as supply moves in lock-step with demand. As of June 2024, the speculative development pipeline is 1% of the total inventory (JLL Research).