JLL arranges $44.5 million sale of two California Bay Area industrial assets

 

Melinda Marino

SAN FRANCISCO, CA – JLL Capital Markets has successfully closed the sale of two industrial assets in the Bay Area, California for a total of $44.5 million. The properties, located at 75 & 89 South

Kelly Road in American Canyon, have a combined size of 266,729 square feet and are fully leased.

Ryan Sitov

 

JLL represented the confidential seller and procured the buyer, Pac West Equities and affiliate of Buzz Oates.

The JLL Industrial Capital Markets team was led by Managing Director Ryan Sitov and Director Melinda Marino. Additionally, the transaction was executed in collaboration with JLL’s North Bay leasing team, including Senior Managing Directors Glen Dowling, Matt Bracco and Chris Neeb.

 

“75 & 89 South Kelly Road presented an attractive mark-to-market opportunity to acquire assets in one of the top-performing industrial markets in the country,” said Sitov. “This transaction highlights the continued strength and attractiveness of the Bay Area industrial market."

 

Glen Dowling

These two high-quality triple net leased (NNN) industrial warehouses are situated on 12.85 acres, spanning across two parcels. The building features include 25 to 30-foot clear heights, concrete tilt-up construction, ESFR sprinklers, ample auto parking and a combined 24 dock-high doors and four grade-level doors. 

89 S Kelly Road is 100% master leased to Dynacraft, BSC Inc – the largest privately held distributer of wheeled goods. 75 S. Kelly Road is subleased to Valley Wine Warehouse, a local Napa third-party logistics provider.

 

Matt Bracco 

75 & 89 S Kelly Road are situated along the CA-29 in Napa County, located in one of the top performing industrial markets in the country. The property is within 75 miles of the four major population centers in Northern California, which contain nearly 12 million residents collectively and yield the highest GDP per capita in the country.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Chris Neeb

For more news, videos, and research resources, please visit JLL’s newsroom.

 

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

 

CONTACT:

 

Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com