One of Oakland's heavyweight industrial properties has a new owner, in a deal that underlines just how much investors still like Bay Area warehouse space. WPT Capital Advisors has shelled out $112.5 million for the 374,700-square-foot warehouse at 8350 Pardee Drive, next to the Oakland airport business park, according to public records. The price comes with a sizable mortgage and sits well above the county's assessed value.
According to The Mercury News, documents filed with the Alameda County recorder show that WPT Capital Advisors paid $112.5 million for the property and lined up a $67.6 million loan from PGIM Real Estate Finance. The transaction was recorded in county records on March 25, 2026.
Numbers and the site
County tax rolls and commercial property databases put the building's assessed value at about $73.4 million and its size at roughly 374,700 square feet. That means the sale penciled out to an approximate 53 percent premium over the county assessor's number, a spread that will not go unnoticed in Oakland real estate circles.
Property records state that the warehouse sits on an 18-acre industrial parcel at the corner of Pardee Drive and Swan Way, a location that gives it a large footprint in a tightly packed logistics corridor. The site details match the commercial listing on LoopNet and data maintained by PropertyShark.
Tenant and market context
The complex is home to a sizable Benjamin Moore distribution operation, according to regional leasing data, which helps explain the property's appeal. Quick access to I-880, I-238 and the Port of Oakland gives tenants a straight shot to the region's freight and shipping network, a combination that keeps well-located warehouses like this one in high demand.
That tenant base, plus the short supply of large-bay industrial land in the East Bay, is a big part of why buyers continue to pay a premium for newer, high-clearance logistics space, market reports indicate. In a segment where big boxes are rare, a single campus this large becomes a marquee asset.
Why buyers are paying up
WPT has been active in large logistics deals around the country and recently arranged acquisition financing for a 603,092-square-foot industrial complex in New Jersey, a move that underscores the firm's appetite for big distribution assets. Brokers say a thin pipeline of modern warehouse product in the East Bay, paired with steady tenant demand, is keeping pricing elevated for properties that do hit the market.
Local brokers and city planners are expected to keep an eye on permits, lease documents and any repositioning that happens under the new ownership. Public records and leasing databases will show whether the deal sparks renovations, new tenants or other shifts at the Pardee Drive property, and observers in Oakland's industrial world will be watching closely.
