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Avison Young brokers $12.45 million sale of 129,491 sf industrial-flex property in North Highlands, CA
Irvine, CA – Avison Young announced today it has brokered the $12.45 million sale of a vacant, 129,491 square-foot industrial-flex building located at 4837 Watt Avenue in North Highlands, CA (Sacramento region).
Avison Young Principal Alan Pekarcik and Senior Associate Chris Smith, who are based in the firm’s Irvine office represented the buyer, Exeter 4837 Watt LLC. The seller Stoneridge Watt Avenue, LLC, was represented by Cushman & Wakefield.
Built in 1987 for use as a Price Club, the asset was renovated in 1997 for industrial/flex use. It is situated on 12.8 acres of land and is conveniently located one-half mile from Interstate 80.
“This property was attractive to our client as it is in a prime location off the Interstate 80 Corridor of Sacramento,” said Smith. “The new owner bought it as an investment and will install a significant amount of capital in order to attract users. This a desirable industrial market and site offers well-above market parking ratio.”
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- Alan Pekarcik ([email protected]), Principal | Capital Markets Group, Irvine, CA: +1 949.757.1595
- Chris Smith ([email protected]), Senior Associate | Capital Markets Group, Irvine, CA: +1 949.430.0683