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Tremendous investor demand and a limited supply pipeline continue to make the Bay Area a sought-after industrial location. The sale of one of only six mega-distribution facilities is a recent example of that demand activity. JDM Partners LLCpurchased 2600 Stanford Court, a 1.02-million-square-foot distribution center, which was fully leased at the time of purchase. The price was undisclosed.
On behalf of USAA Real Estate Company, JLL’s capital markets managing directors, Mark Detmer and Bo Mills, and vice president Ryan Sitov led the team on the deal.
“As one of only six distribution centers in Northern California totaling more than 1 million square feet, 2600 Stanford Court presented a rare opportunity for JDM Partners to break into a high barrier-to-entry market with a top-quality asset,” said Detmer. “With such heavy demand for industrial product and a very limited supply, Northern California is primed to continue its strong sales environment.”
Built in 2006, 2600 Stanford Court sits on a 56-acre lot, features a 180-foot truck court, 32-foot clear height and early suppression fast response sprinklers. The facility was developed as a build-to-suit for the current tenant and can accommodate up to four tenants with trailer parking for 80. It also includes 11,220 square feet of office space. The building is strategically located near Interstates 80 and 505, and is within 90 miles of four international airports.
Read entire GlobeSt.com article here.
P.S. if you are interested in Industrial Warehousing in Fairfield, please see our Featured Property for more information on another opportunity.