Fairbanks Industrial Property Sets Historical Price PSF

A net lease industrial property at 3105 Industrial Ave. in Fairbanks, AK recently sold for $5.75 million. The sale closed at 99 percent of list price, setting a historical price per square foot record in the Fairbanks market and accomplishing the client’s goal of closing before the end of the year for tax purposes.

The seller was looking to take advantage of the thriving industrial market, especially the net lease industrial sector. Matthews Real Estate Investment Services’ Isaac Wulff and Alexander Harrold represented the seller.

“Since the onset of COVID-19, the industrial market has continually grown in value and demand,” says Wulff. “Alaska has a strong and active net lease industrial market which allowed us to create a competitive bidding environment and achieve a great sale price.”

The buyer, a Seattle-based investor, recently sold a multifamily property and was interested in moving its profits into the industrial market through a 1031 tax-deferred exchange.

“Using our proprietary marketing platform’s email campaigns, we were able to source a buyer that was eager and qualified to purchase the Ferguson facility,” says Harrold. “This deal exceeded our client’s expectations and allowed the buyer to find a stabilized industrial asset that fit their long-term investment goals.”