California industrial complex to move beyond cereal

Broadreach purchases for redevelopment

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Broadreach Capital Partners acquired a mostly vacant, 464,727-square-foot manufacturing and warehouse complex in San Leandro, Calif., for approximately $21.5 million. The property, originally developed and operated as one of Kellogg Co.'s cereal production facilities, is comprised of three components: a 186,000-square-foot manufacturing and warehouse building; a 278,727-square-foot warehouse and office property (collectively on 22 acres); and a separate 3.9-acre industrial-zoned land parcel. Trevor Wilson, Broadreach's senior director, said the company "plans to reposition the project through a comprehensive redevelopment program that will both upgrade the facilities and make the space compatible for a variety of tenant uses."...