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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.”
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
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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