TA Realty has acquired Inexperienced Valley Company Park, a 415,107-square-foot industrial park in Fairfield, Calif., for $90.5 million.
Panattoni developed and bought the property, after touchdown a $19.6 million building mortgage, funded by BMO Harris Financial institution, for 2 of the buildings final yr, CommercialEdge knowledge exhibits. JLL represented the vendor within the transaction.
Spanning 26.5 acres, the newly accomplished property contains three buildings starting from 197,567 sq. ft to 103,870 sq. ft with 32-foot to 36-foot clear heights, ESFR fireplace sprinklers, 2000 amps of electrical energy energy, 51 dock doorways, 10 grade-level doorways and 392 parking areas. The commercial asset is 75 p.c preleased to Southern Glazer and Landsberg Orora, a beverage distributor and packaging options firm.
Situated at 4550-4750 Enterprise Middle Drive, the property is inside a mile of Interstate 80 and Interstate 680, providing quick access to San Francisco and the Bay Space, in addition to Northern California. A number of retail choices, comparable to Safeway, T.J. Maxx and Costco, are inside a mile of the asset.
Managing Director Ryan Sitov and Senior Managing Director Mark Detmer labored on behalf of the vendor, whereas Senior Managing Administrators Glen Dowling and Matt Bracco and Managing Director Chris Neeb had been a part of the leasing workforce.
Main Industrial Gross sales within the Bay Space
Prior to now months, the commercial gross sales exercise within the Bay Space has been robust, with the closing of a number of main transactions totaling $1.6 billion. In June, Orton Improvement bought Ford Level, a 478,761-square-foot industrial property in Richmond, Calif. A three way partnership between Madison Capital and Meadow Companions paid $103.7 million for the property.
One other main property traded in July, when a partnership between Intercontinental Actual Property Corp. and Kennedy Wilson paid $84 million for Stockton Industrial Park, an 877,648-square-foot industrial park in Stockton, Calif.
