Avison Young brokers $6.985 million sale of 55,000 sf industrial property in West Sacramento, CAJuly 9, 2021
Irvine, CA – Avison Young announced today it has brokered the $6.985 million sale of a 55,000 square-foot industrial building located at 879 F Street in West Sacramento, CA.
Alan Pekarcik, Principal and Chris Smith, Senior Associate who are based in the firm’s Irvine office represented the buyer, The Bendetti Company. The seller, INNOVA Fund I, LLC, was represented by Kevin Jasper of Newmark.
Built in 2001, 879 F Street is situated on just over two acres of land and is a part of the F Street Commerce Center. The property includes fully insulated warehouses and newer concrete tilt-up construction. Additionally, it is centrally located within the greater Sacramento region.
“This transaction marked the buyer’s second acquisition in the greater Sacramento market,” said Smith. “This is one of the hottest industrial markets on the West Coast which has seen a steady increase in rental rates over the past year. With a limited supply of value-add multi-tenant industrial product on the market today, the asset was heavily pursued by investors and received multiple offers. The buyer is committed to this market long-term and feels rents will continue to rise into the near future.”
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