Skip to main content Skip to footer

Colliers Facilitates Sale of Two Building Single-Tenant Industrial Portfolio in Gilroy, California

PR_220412_CrothallIndustrialSale_1536x1040

Gilroy, CA April 12, 2022 – Leading commercial real estate services firm Colliers recently facilitated the sale of Crothall Industrial, a 102,466 square-foot industrial asset comprised of two manufacturing buildings located at 8190 Murray Ave. in Gilroy, California. The building was fully leased at the time of the sale to Crothall Laundry Services, a commercial laundry service serving myriad of healthcare facilities throughout the San Francisco Bay Area, with ten years remaining on the lease term. The sale was finalized on March 25, 2022 for $19,156,000.

Colliers Kevin Moul, Bob Gilley, Brad Idleman and Andy Zighelboim represented the seller, Mohr Capital, in negotiations with buyer Four Springs Capital Trust. “This transaction is a true win-win for Mohr Capital and Four Springs Trust. Early in their ownership of the building, Mohr Capital took advantage of a strong renewal probability from their seemingly entrenched tenant, Crothall Laundry Services” said Moul. “Mohr Capital was able to negotiate a long-term extension with the tenant and leverage it against strong buyer demand for stabilized assets. On the other side of the transaction, Four Springs Capital Trust acquired a fully-leased cash-flowing industrial asset to add to their growing portfolio of single-tenant, net leased properties.”

Crothall Industrial’s stable investor cash flow with minimum management, due to the structure of its existing lease, was guaranteed by its prior parent company Compass Group USA, through 2028.

“This sale illustrates what a common trend that we’re seeing: high favor for single-tenant, credit leased assets in secondary markets where there are lower barriers to entry and high potential for growth,” added Moul.

The 4.61 acre property was built in 1991 and features 10 loading docks, 28 to 30-foot clear heights and an overall facility production capacity of 26 million pounds.

 

Media Contact:

Solana Tanabe

Allison+Partners for Colliers Northern California

solana.tanabe@allisonpr.com

 

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.1 billion and more than $50 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.



 

 


Related Experts

Kevin Moul

Executive Vice President

Silicon Valley

Kevin is an Executive Vice President on Colliers Institutional Capital Markets team where he focuses on selling institutional grade investment properties in the North Western Region of the United States. Kevin is licensed in multiple states and has been a consistent top-producer at Colliers.  Kevin attributes his success to his creative outlook to the deal-making process and ability to overcome obstacles that may arise during any given transaction. 

View expert

Robert Gilley

Executive Vice President

San Francisco

Bob is Executive Vice President in the San Francisco office of Colliers International with more than 25 years of commercial real estate transaction experience. He is responsible for managing the institutional investment sales platform in the San Francisco Bay Area, Sacramento and the Pacific Northwest. The investment sales group specializes in institutional-grade assets concentrating on office, R&D, industrial and Land properties.

View expert

Brad Idleman

Executive Vice President

San Francisco

Brad maintains and develops client relationships by presenting acquisition opportunities to buyers and bringing forth numerous capital sources to assets located in the Western United States. Brad's direct transactional involvement offers clients an enhanced level of service and provides them with the information needed to implement and succeed in their acquisition and disposition objectives.

Through his exposure and knowledge of the debt and equity markets, Brad assists clients in taking advantage of current market conditions by providing real-time capital solutions for every transaction. With extensive experience in underwriting, financial auditing, investment valuations, contract and transaction negotiations, and execution, Brad confidently advises his clients through every step of the transaction lifecycle.  

View expert

Andy Zighelboim

Executive Vice President

Silicon Valley

Andy has spent his career advising a diverse array of clients within the institutional capital markets landscape, including pension funds, life insurance companies, private equity funds, investment managers, REITs, operating platforms, high net worth entities, and corporate users. His primary expertise lies within the valuation and disposition of institutional quality assets located within the East Bay, San Francisco Peninsula, and Silicon Valley.  Andy has successfully advised on over $11.5 billion of transactions chiefly within the industrial, flex, office, and land sectors.

 

View expert