Former cereal plant/warehouse sells for $21.5 million
A nearly vacant 26-acre manufacturing and warehousing complex in San Leandro, formerly owned by cereal maker Kellogg Co., has sold for $21.5 million.
Palo Alto-based Broadreach Capital Partners purchased the two-building, 464,727-square-foot complex from an unnamed San Francisco private seller.
Located in the San Leandro industrial district, within easy reach of both the Port of Oakland and Oakland International Airport, the 22-acre complex and an adjacent 3.6-acre parcel was mostly vacant at the time of the sale.
The complex includes a 186,000-square-foot manufacturing and warehouse building, a 278,727-square-foot warehouse building and associated office space. NAI BT Commercial, which represented Broadreach in the deal, told the San Francisco Chronicle that significant upgrades are planned to the property during the next 12 months.
Kellogg's opened the plant in 1952 and when it stopped production in 1995, was one of only five remaining U.S. Kellogg cereal plants.