Link Logistics Sells Industrial Park for $96M
The property previously traded in 2018 for $58 million.
Link Logistics has sold Sierra View Business Park, a 712,733-square-foot industrial campus in Roseville, Calif., a Sacramento submarket, according to Yardi Research Data. NorthPoint Development acquired the asset for $96.3 million.
The buyer also took out an acquisition loan originated by The Hartford Financial Services Group. Newmark and CBRE brokered the sale, while Colliers arranged the financing. The facilities were fully leased at the time of sale with a weighted average remaining lease term of more than 3 years.
The property previously traded in March 2018, when Link Logistics acquired it for $58.3 million, the same source shows. Longmeadow Development was the seller back then.
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Located at 8860-8800 Industrial Ave. and 8855-8875 Washington Blvd., Sierra View Business Park is close to Highway 65 and Interstate 80. Sacramento International Airport is 32 miles southwest, while downtown Sacramento is 24 miles away.
The 108,000-square-foot Building 1 came online in 2007, featuring 30-foot clear heights, three drive-in doors and nine dock doors, as well as more than 110 parking spaces.
Building 2 and 3 span 201,600 square feet each. Completed in 1999 and 2000, respectively, the warehouses have 30-foot clear heights and four drive-in doors.
Developed in 1996, Building 4 measures 201,533 square feet and has 22 dock doors and two drive-in doors. Additionally, the total office area of the 38-acre property is 65,394 square feet.
Newmark Executive Managing Director Jim Linn and Andrew Briner, Associate Director Aaron Banks and Senior Financial Analyst Luke Easton, along with CBRE Executive Vice President Todd Sanfilippo, led the sale process. Colliers Senior Vice Presidents Andrew Gibson and Nicole Sayers, as well as Executive Vice President Jeremy Thornton, arranged the financing.
Link Logistics’ recent deals
Link Logistics’ industrial portfolio as of June comprised 500 million square feet across multiple key U.S. distribution markets. The firm recently sold a three-asset industrial collection comprising 505,000 square feet. BKM Capital Partners and Kayne Anderson Real Estate purchased the properties for more than $120 million.
In June, Link sold a light industrial campus in Miami. East Capital Partners acquired the 371,976-square-foot, three-building asset.
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