Olson Properties LP acquired 1937 Davis St., a 355,477-square-foot industrial building on a 16.87-acre site in San Leandro, CA, for $14.2 million, about $40 per square foot, from Westside Compress Inc. According to John Swickard of Industrial Properties, "This is a big deal in more ways than just the price tag." The nostalgia of the building is more than meets the eye. In 1939, Chrysler Corporation expanded into San Leandro and purchased its first 13 acres of land for $750-$800 an acre. After constructing the first building, a second one was added in 1944 on land owned by a bank. Chrysler then purchased the land in 1945. Chrysler then erected a third building on the site. Who would have guessed that the plant would have grown to become a 90-acre site? In 1954, Chrysler pulled out of San Leandro after completing its airplane propeller contract with the government. The closing of the plant, which at one time employed over 3,000 people and sported a payroll of $180 million, left many unemployed. Today the 90-acre site has been divided up, re-divided up and sold many times over. John Swickard of Industrial Properties represented the buyer, Olson Properties LP/ Bergen Industries, which plans on using the site as a metal fabrication plant bringing 300-400 jobs to San Leandro. There is currently approximately 251,000 square feet available for lease in the building.