RICHMOND — The historic Ford Point project in Richmond is now completely filled with tenants now that the vast complex, a one-time auto assembly factory, has landed a big lease with a green energy company.
Moxion Power, a maker of mobile systems for the storage of clean energy, has leased 130,000 square feet in the Point Richmond complex, brokers with commercial real estate firms Cushman & Wakefield and JLL said Wednesday.
The new rental agreement leaves the landmark complex, which totals 517,000 square feet, 100% leased.
The lease represents a big early win for Ford Point’s new owners, Madison Capital and Meadow Partners, which teamed up to buy the Richmond complex in June when they paid $103.7 million for the property.
The Moxion Power lease was arranged by Cushman & Wakefield brokers Ted Anderson, Andrew Schmieder and Ryan Hattersley; and JLL brokers Mike Sample, Greg Matter and Patrick Metzger.
“We are thrilled to provide R&D and advanced manufacturing space to Moxion in support of their continued growth at Ford Point,” said Brian Riggle, a senior vice president with Madison Capital.
Moxion Power makes clean energy technologies that are mobile, allowing them to be used by construction, film production, live events, and disaster response companies and organizations.
“Temporary power generation is a critical part of many industries,” said Paul Huelskamp, Moxion Power’s chief executive officer and co-founder.
The company believes it can create mobile systems that provide temporary power that is clean energy.
“As industries look to decarbonize, there’s enormous demand for cleaner alternatives to the fossil-fuel-burning generators that these industries have historically relied on,” Huelskamp said.