Nov 17, 2015, 2:30pm PST
The Port of Oakland has picked industrial developer CenterPoint Properties as a partner to build a logistics facility as part of the $500 million redevelopment of the former West Oakland army base.
The Port and Oak Brook, Ill.-based Centerpoint Properties have signed a six-month exclusive negotiating contract, with plans to build a 20-acre facility to transfer cargo from trains to ships. The project is part of the Seaport Logistics Complex, which will encompass 170 acres and would be the largest logistics center at a West Coast port.
The Port's project is separate from the nearby Oakland Global Trade and Logistics Center, developed by Phil Tagami's California Capital & Investment Group's. That project has drawn opposition from environmentalists and city officials after tenant Terminal Logistic Solutions was found to be negotiating with Utah counties to ship coal through the facility.
“We’re pleased to engage with one of the most respected names in industrial development,” said John Driscoll, the Port of Oakland's maritime director, in a statement. “And we’re excited to realize our vision for the Seaport Logistics Complex."
Separately, the Port of Oakland reported that imports dropped by 3.3 percent in October, an unexpected decline during a historically busy season.
Centerpoint owns over 50 million square feet of industrial properties around the U.S. It also owns the 190-acre CenterPoint Intermodal Center-Manteca in Manteca.
Roland Li covers real estate and economic development