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Scannell Snags North Bay Industrial from Owner-Operator
Connect Bay Area is coming up July 18, 2019 at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.
Indianapolis-based Scannell Properties acquired a 183,000-square-foot multi-building industrial portfolio in Petaluma, CA for $26.45 million. The seller consisted of a pair of private individuals who formerly operated their business, Sistema Plastics, at the facility at 755-775 South Point Blvd.
Cushman & Wakefield’s Trevor Buck, Steven Leonard and Brian Foster represented both buyer and seller in the transaction. The trio was also retained by the buyer to perform leasing services.
Buck says, “At the time of sale, both buildings were fully vacant to which the portfolio had represented the largest industrial lease opportunity in the North Bay. However, already since the date of sale, we have swiftly closed two significant lease transactions in the project, and are currently in negotiations for a third lease.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


