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BentallGreenOak Takes North Bay Logistics Center Amid Demand
The North Bay submarket continues to experience unprecedented demand from capital and developers. Taking full advantage of that demand, BentallGreenOak recently acquired North Bay Logistics Center on behalf of a discretionary investment vehicle. The purchase price for the 607,208-square-foot fully net-leased distribution warehouse in Fairfield was north of $70 million.
North Bay Logistics Center was completed in 1995 with features found in today’s cross-dock logistics facilities including functional tenant space with 30-foot clear height, wide column spacing, ESFR sprinklers, 56 dock-high doors, eight grade-level doors, and ample truck and trailer parking. The 28-acre logistics center sits within a mile of the convergence of Interstates 80 and 680 and CA-12.
Additionally, working on behalf of BentallGreenOak, JLL secured the acquisition loan and will manage the property. The JLL property management team is being led by Tracy Scifo. The JLL investment sales advisory team representing the seller was led by Mark Detmer, Ryan Sitov and Andie Fezell along with Matt Bracco and Glen Dowling. The JLL capital markets debt placement team representing the new owner included Bruce Ganong, Alex Witt, Tom Gilliland and Lauren Mezzanotte.
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