The Jackson Avenue Warehouse Changes Hands

The buyer, Regal Service, is and will continue to be the sole occupant of the facility.
Aerial view of 133 Jackson Avenue
Aerial view of 133 Jackson Avenue

Boston—Hackman Capital Partners LLC of Los Angeles and Boston-based Calare Properties Inc. announced the sale of The Jackson Avenue Warehouse at 133 Jackson Ave. in Jamestown, N.Y. Regal Service, who also occupies the entire 287,959-square-foot distribution facility, acquired the asset.

Regal Service has occupied the space at The Jackson Avenue Warehouse since 2011. After a series of expansions, it took over the entire property in early 2014. Previously, The Jackson Industrial Center was part of an 11.4 million-square-foot industrial portfolio acquired in 2007 by a joint venture formed by Hackman Capital Partners, Calare Properties and KBS Real Estate Investment Trust. The venture still owns 15 buildings–comprising more than 5 million square feet–in the portfolio.

“Since the portfolio was acquired, we repositioned and rebranded many of the properties,” Michael Hackman, founder & CEO of Hackman Capital Partners, said in a prepared statement. “The Jackson Industrial Building’s location, high bays and abundant loading capacity made it a great fit for Regal when they first leased space in it six years ago. We’re thrilled it has continued to meet their needs and very pleased with the sale.”

Image courtesy of Regal Service