Colliers Capital Markets facilitated the sale of 3689 Industrial Blvd. in West Sacramento on behalf of owner Investcorp/Bendetti. The industrial warehouse and distribution property, spanning 302,500 square feet, was acquired by The McClellan Company as their inaugural investment in the Sacramento market.
Brad Idleman, Kevin Moul, Bob Gilley and Andy Zighelboim from Colliers Capital Markets acted as representatives for both parties involved in the transaction. While specific details about the sale price were not disclosed to the public.
According to Idleman: “In light of rising interest rates and uncertain market conditions with ongoing speculation about future trends, many investors are reevaluating their investment strategies for both short-term and long-term gains.” He further added that assets situated in prime locations with a stable income stream offer long-term stability and steady cash flow. In this particular case study we successfully introduced a first-time buyer into this competitive marketplace while simultaneously helping them enhance their existing portfolio.”
Originally constructed back in 1974; since then it has undergone multiple renovations starting from early-2018 onwards.
This news article originally appeared on Connect CRE’s website.
