Intersection Equities Snags AmCan Industrial Facility
Intersection Equities has acquired an 85,000-square-foot distribution facility in the Napa County city of American Canyon, CA for $15.1 million. Located at 5555 Broadway St., the property consists of two warehouses; one night-cooled and the other refrigerated. CBRE’s Bill Chiles, Scott Peterson and Colby Matzke secured an $11.2 million loan to finance the deal.
“This property has maintained a long history of high occupancy,” said Intersection’s Anton Myskiw. “Near-term expirations provide us with an opportunity to re-lease the building and yard space at market rents during the first year of ownership.”
“Intersection is acquiring an exceptional asset that will create considerable interest from users given its direct frontage along Highway 29, proximity to wine country and easy access to the Bay Area,” said CBRE’s Peterson. “The market’s low vacancy and record-breaking absorption position the property well for future success.”
The facility features 22’ clear heights, four grade level doors, five dock-high doors and over 2 acres of yard area.
- ◦Sale/Acquisition