Pioneer Business Park - Sacramento FOR SALE


Sacramento, CA - Parkway
$13,188,000 USD
916-642-3914
, Sacramento, CA for Sale
$13,188,000 USD
FOR SALE
1/10
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Pioneer Business Park - Sacramento
Sacramento, CA
Parkway


HIGHLIGHTS

  • VALUE-ADD MULTI-TENANT INDUSTRIAL PARK IN INFILL SACRAMENTO LOCATION WITH FREEWAY FRONTAGE
  • EXCEPTIONALLY STRONG MARKET FUNDAMENTALS THAT SUPPORT UPSIDE
  • UNIQUE PROJECT CHARACTERISTICS WITH IMMEDIATE FREEWAY ACCESS TO HIGHWAY 99

OVERVIEW

VALUE-ADD MULTI-TENANT INDUSTRIAL PARK IN INFILL SACRAMENTO LOCATION WITH FREEWAY FRONTAGE * 92.3% leased with many long-standing tenants. In-place rents are approximately 12.3% below market, allowing for upside through tenant renewals. * The Property includes 31 units and 23 tenants spread across six buildings with suites averaging just under 2,500 SF. * Low WALT of 2.03 years, strong historical occupancy, and staggered rollover, allowing for a rapid mark-to-market play. Situated on a cul-de-sac right next to a four-way Highway 99 interchange, the Property is ideally positioned in a dense infill location with 184,823 residents within a 3-mile radius and has excellent freeway visibility. EXCEPTIONALLY STRONG MARKET FUNDAMENTALS THAT SUPPORT UPSIDE * The property sits in the Power Inn submarket on the edge of the Elk Grove/Laguna/Galt submarket. Average rent for incubator space in Power Inn is $1.04/sf/mo NNN and in Elk Grove/Laguna/Galt is $1.21/sf/mo NNN. * There are 64.4 MSF of industrial buildings between 4,000 and 50,000 SF, the vacancy rate is only 3.8%, and rents have grown 3.6% per year over the last five years. UNIQUE PROJECT CHARACTERISTICS * Excellent ingress/egress, immediate freeway access to Highway 99, and no thru-traffic due to dead-end road. Freeway visibility and signage opportunities (±176,000 CPD along Hwy 99). * Separately Parceled Buildings Provide Additional Flexibility | The 3-parcel project offers an owner the ability to sell off portions of the project, lower their basis, and increase overall returns.

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Matt PostCBRE, Inc.More Info
916-642-3914

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Matt PostCBRE, Inc.More Info
916-642-3914

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.