300 KSF Industrial Asset Changes Hands in California
- Oct 24, 2016
By Irina Vrasmas
Antioch, Calif.—Marcus & Millichap has announced the sale-leaseback of a 300,000-square-foot industrial warehouse located at 1700 West 4th St. in Antioch. The selling price amounted to a total of $17.8 million, making the transaction the largest industrial warehouse sale in terms of dollar volume in Antioch this year.
Jeffrey Ida, investment sales associate & office and industrial property investment specialist in Marcus & Millichap’s San Francisco office, represented the buyer in the transaction.
“The sale was structured as a sale-leaseback to allow the seller to pull equity from the property, reallocate capital to infrastructure and supply lines and ensure that operations will be maintained for years to come,” said Ida in prepared remarks. “Sale-leaseback transactions often make sense from a capital-reinvestment, tax, balance sheet and cost-of-capital perspective. One of the benefits investors experience when working with Marcus & Millichap is the high level of expertise we offer to investors selling or acquiring industrial properties,” he added.
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