May 9, 2020
Brookfield Property Group acquired seven single-tenant industrial properties from privately-owned investment firm, Lowenberg Corporation. The multi-state industrial portfolio was purchased for $24.765 million.
The properties are located in key infill locations in top U.S. metropolitan areas; including Anaheim, San Diego, Denver, Phoenix, Las Vegas, Sacramento and Austin. Cumulatively, the properties are situated on 13.22 total acres of land and occupy roughly 80,069 square-feet. All are fully-leased to Penhall Corporation and currently operated as equipment yards with small industrial buildings on-site.
Colliers’ Michael Kendall, Greig Lagomarsino and Gian Bruno represented the seller in the transaction. The buyer was self-represented.
Addresses and square footage for each property are:
- 5775 Eastgate Dr., San Diego, 6,400 square feet
- 8416 Specialty Circle, Sacramento, 7,500 square feet
- 4755 W. University Ave., Las Vegas, 9,900 square feet
- 3801 E. Wood St., Phoenix, 12,877 square-feet
- 1385 Umatilla St., Denver, 14,830 square feet
- 4201 Felter Lane, Austin, 8,000 square feet
- 1801 Penhall Way, Anaheim, 20,562 square feet
For comments, questions or concerns, please contact Dennis Kaiser