Exclusive: Sacramento Industrial Asset Sells for $41M

Boyd Watterson Asset Management has acquired 3575 Business Drive, an 82,053-square-foot industrial asset in Sacramento, Calif., according to Yardi Matrix information. Jackson Properties sold the facility for $41 million, or nearly $500 per square foot.

City National Bank originated a $27 million construction loan in 2022, with 3575 Business Drive coming online in 2024 on 5 acres, the same data provider shows.

Built-to-suit for UC Davis Health, the warehouse comprises some of the university’s pharmacy office and distribution services. The building also serves as a storage facility.

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Moreover, the LEED Gold-certified asset is part of Jackson Business Park, a 16-structure industrial campus with laboratory, office, medical flex and research facilities. The property is just off 14th Avenue, having easy access to U.S. Route 50. Downtown Sacramento is some 6 miles northwest.

Deal volume fluctuates in the West

Nationwide industrial transaction volume reached $23.9 billion through April, with assets trading at an average of $138 per square foot, according to a recent Yardi Matrix report. As for the western region, the figures point to uneven deal activity across major key markets.

The Bay Area led with $558 million in sales at an average of $303 per square foot. Seattle followed with $541 million in transactions, with assets trading at $202 per square foot, while Denver recorded $349 million in sales at $106 per square foot. Portland posted the lowest volume with $140 million, as industrial properties changed hands for an average of $179 per square foot.