July 23, 2020
A joint venture of Los Angeles-based PCCP, LLC and Irvine, CA-based The Koll Company acquired a 100% leased, 510,707-square-foot, eight-building industrial portfolio in West Sacramento and Salt Lake City for $41.3 million. The seller was an unnamed private family trust.
PCCP’s Ron Bonneau says, “This opportunity enabled PCCP to acquire a well-located, cash-flowing industrial portfolio in markets with tight industrial fundamentals.”
The California acquisition is located in West Sacramento within the Port of Sacramento Industrial Park and encompasses three 1987-built properties totaling 226,000 square feet. They feature 22- to 26-foot clear heights, dock-high doors, grade level doors, wet sprinklers, reinforced concrete loading areas, and ample parking.
The five properties in Salt Lake City are within Centennial Industrial Park, were built in 1995 and total 214,000 square feet.
NKF’s Bret Hardy and Kevin Shannon represented the seller while NKF’s David Milestone sourced the debt on behalf of the buyer from California Bank & Trust.
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Tags: Acquisition, Industrial
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