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California  + Industrial  | 

Buyers Flock to Sacramento for Lower Cost Basis

While 2020 brought periods of uncertainty, the Sacramento industrial market has taken the spotlight this year. Net absorption in fourth quarter 2020 ballooned to positive 1.5 million square feet, while gross absorption followed a similar path, finishing at 2.7 million square feet. Both net absorption and gross absorption recorded the highest quarterly figure since second quarter 2018, according to a CBRE research report.

And those industrial properties are being nabbed quickly as a result. An industrial property located at 4632 Raley Blvd. in Sacramento recently sold to an institutional investor for $10.5 million.

The 133,380-square-foot property was fully leased to American Tire Distributors at the time of sale. The single-tenant industrial building was originally constructed in 2001 and features 28-foot clear heights and 18 dock-high doors. The property is less than one mile from I-80.

Matt Post of CBRE represented the buyer. The seller, Brocchini Farms, was represented by an outside firm.

“The buyer capitalized on an opportunity to purchase an attractive, functional building with a good tenant at a lower cost basis in a market with rising rents,” said Post.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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