Commercial Development Company, Inc. Purchases 108-Acre Heavy-Industrial Waterfront Site in Antioch, CA for Redevelopment
August 23, 2016
Antioch, CA – Commercial Development Company Inc. (CDC), a leading North American commercial real estate and brownfield redevelopment company, today announced the acquisition from Forestar (USA) Real Estate Group, Inc. of a 108-acre, industrial waterfront site in Antioch, California.
For several decades, this property was a paper mill operated by Gaylord Container Corporation until it was retired and demolished in 2002. Since closing, environmental impact from past operations has limited redevelopment options. CDC’s remediation plans give fresh potential to redevelop this attractive waterfront industrial site.
In addition to selling surplus real estate to CDC, this transaction enabled Forestar Group to transfer environmental obligations to Environmental Liability Transfer, Inc. (ELT), an affiliate of CDC. ELT assumed responsibility for legacy environmental liabilities associated with the site and its former operators.
EnviroAnalytics Group (EAG), another CDC affiliate, will work with the California Department of Toxic Substances Control (DTSC) to oversee ongoing remedial activities, including environmental monitoring, to bring the site to regulatory closure. Successful environmental clean-up will reposition this site for port and industrial re-use and stimulate new construction and jobs.
Throughout the remediation process, CDC will be performing land studies, market assessments, and meeting with community stakeholders to determine the highest and best use for this site going forward.
The property is located at 2301-2603 Wilbur Avenue in Antioch, CA. This site is zoned heavy industrial and has a pier on the San Joaquin River to support international shipping, as well as nearby rail. With excellent access to Hwy 4 and the San Joaquin River, this 108 acre site is among the largest deep water sites in the East Bay region and can support logistical and industrial users. The site also has 2000 feet of Wilbur Avenue frontage and is near the new Antioch BART (Bay Area Rapid Transit) station scheduled to open this year.
“We are excited to expand our redevelopment efforts into the East Bay region” said Steve Collins, Executive Vice President at Commercial Development Company, Inc., “Our acquisition of this deep-water industrial port is the first step to repurposing this strategic property. The Antioch market is poised for economic rebirth and CDC is pleased to bring this site to market.”
About Commercial Development Company, Inc.
Commercial Development Company, Inc. (CDC) is a privately-held, diversified real estate acquisition and development firm whose principal competency lies within the acquisition, repositioning, and redevelopment of underutilized, distressed or environmentally-challenged properties. CDC has purchased and developed over 50-million-square feet under roof located on over 175 sites throughout the United States and over 175 sites located throughout 10 Canadian provinces and territories. For more information, visit www.cdcco.com.
About Environmental Liability Transfer, Inc.
Environmental Liability Transfer, Inc., (ELT), an affiliate company of Commercial Development Company, Inc., is a comprehensive, environmental liability assumption company providing its clients complete and final environmental liability transference services. ELT has successfully assumed and abated over $1 billion USD in corporate environmental liability throughout North America. For more information, visit www.eltransfer.com.
About EnviroAnalytics Group LLC
EnviroAnalytics Group LLC (EAG), an affiliate company of Commercial Development Company, Inc., provides consulting and management services on environmentally impacted real estate to corporations, law firms, accounting firms, lenders, municipalities, and institutions throughout North America. For more information, visit www.enviroanalyticsgroup.com.
If you would like more information about this topic, or to schedule an interview with a representative from Commercial Development Company, Inc., Environmental Liability Transfer, or EnviroAnalytics Group LLC, please contact John Kowalik (314) 835-2813; firstname.lastname@example.org.