Private Firm Sells Prized Seven-Property Industrial Portfolio in Southwest Markets
"There was very strong interest in this portfolio from a diverse group of investors driven by the infill locations, below market rent and low coverage profile of each site," said Executive Managing Director of Industrial Capital Markets for the Western United States, Michael Kendall.
The multi-state industrial portfolio purchased by global asset management company Brookfield Property Group is comprised of seven properties located in prized infill locations, all in top U.S. metropolitan areas; Anaheim, San Diego, Denver, Phoenix, Las Vegas, Sacramento and Austin. Cumulatively, the properties are situtated on 13.22 total acres of land and occupy approximately 80,069 square-feet. Addresses and square footage for each property can be found below:
- 5775 Eastgate Drive, San Diego, California - 6,400 square-feet
- 8416 Specialty Circle, Sacramento, California - 7,500 square-feet
- 4755 W. University Avenue, Las Vegas, Nevada - 9,900 square-feet
- 3801 E. Wood Street, Phoenix, Arizona - 12,877 square-feet
- 1385 Umatilla Street, Denver, Colorado - 14,830 square-feet
- 4201 Felter Lane, Austin, Texas - 8,000 square-feet
- 1801 Penhall Way, Anaheim, California - 20,562 square-feet
Colliers’ Michael Kendall, Greig Lagomarsino and Gian Bruno represented the seller in the transaction. The buyer was self-represented.
About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.
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