 |
| 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
