California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Fairfield’s Gateway 80 Business Park Sold
A partnership between MetLife Real Estate Investors and Gateway 80 Industrial, LLC divested Gateway 80 Business Park in Fairfield, CA. Invesco Real Estate purchased the two-building, 860,651-square-foot business park on behalf of an undisclosed client.
Panattoni Development Company developed the fully-leased business park in 2017. The property consists of 2920 Cordelia Rd. (430,151 square feet) and 2950 Cordelia Rd. (430,500 square feet), as well as a 9.52-acre excess parcel and a parking lot at 2980 Cordelia Rd.
JLL Capital Markets’ Mark Detmer, Bo Mills, Glen Dowling, Matt Bracco, Chris Neeb and Ryan Sitov handled the sale.
“New construction logistics buildings are difficult to find in the Bay Area, where vacancy is in the low single digits,” said Detmer. “With state-of-the-art industrial product and limited opportunities of scale in the Bay Area, this was a highly sought-after deal.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


