Blackstone Sells San Francisco Facility
The buyer took out a permanent loan from Bank of America.
Blackstone’s Link Logistics has sold 868 Cowan Road, a 55,700-square-foot industrial facility in Burlingame, Calif., a San Francisco submarket, according to Yardi Research Data. LBA Realty acquired the asset for $45.5 million.
The buyer took out a permanent loan from Bank of America, the same source shows. The property previously traded in July 2021, when Link Logistics paid $45 million for it.
Sitting on more than 2 acres, the facility at 868 Cowan Road provides easy access to Highway 101 and is adjacent to San Francisco International Airport. Downtown San Francisco is less than 15 miles north, while downtown San Jose, Calif., is 35 miles away.
READ ALSO: 2025 Industrial Sales Update
Completed in 1962, the Class B industrial facility has 20-foot maximum clear heights and 10 drive-in doors. Tenants at the property include Gate Gourmet, Yardi Research Data shows.
San Mateo County’s industrial vacancy rate at the end of the second quarter clocked in at 4.9 percent, rising 10 basis points quarter-over-quarter and 30 basis points compared to the same period of last year, according to a Cushman & Wakefield report. The average asking rate during the same period was $1.8 per square foot, marking a slight uptick compared to the first quarter of 2025.
Link Logistics’ latest industrial transactions
Link Logistics has recently taken part in a series of industrial real estate deals, reflecting its active role in the sector’s ongoing transaction momentum. Just this month, the firm acquired Clayton Commercial Center II, a 365,490-square-foot distribution facility in Ellenwood, Ga., an Atlanta submarket.
Earlier this year, Link Logistics sold Las Vegas Logistics Center, a 1 million-square-foot industrial portfolio in North Las Vegas, Nev., for $175 million. The collection comprises three buildings completed between 2003 and 2007. The company also sold a 505,000-square-foot portfolio in the San Francisco Bay Area—totaling 16 buildings—to BKM Capital Partners and Kayne Anderson Real Estate.
You must be logged in to post a comment.