December 7, 2016 Comments Off on Blackstone Completes Trio of Bay Area Industrial Deals Views: 367 Bay Area, California News, West

Blackstone Completes Trio of Bay Area Industrial Deals

New York-based Blackstone Group LP acquired a 450,000-square-foot industrial building in San Jose, CA for $60.2 million from Irvine, CA-based LBA Realty LLC. The transaction was part of a larger $1.5-billion portfolio sale involving 46 West Coast properties.

The facility is located at 2055 S. Seventh St. in a foreign trade-free zone, and features 24 dock loading positions, 28-foot clear height and is rail served.

Among the other Bay Area assets acquired are a 122,320-square-foot office, lab and warehouse facility in North San Jose for $26.5 million, and a 44,543-square-foot office and lab facility in Milpitas for $10.3 million.

The keen investment interest in industrial assets is being driven by e-commerce demand.

CBRE’s Chip Sutherland and Charles Strauss handle leasing.

Read more at San Jose Business Journal

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