Sacramento – June 22, 2022 – CBRE arranged the $9.75 million sale of South Point Business Park, a four-building, 83,549-square-foot industrial park in the South Sacramento submarket, to Los Angeles-based investor Rising Realty Partners.
Matt Post, Sammy Cemo, Anthony DeLorenzo, Bryan Johnson, and Dave Planting of CBRE represented the seller, Texas-based ARB Investments, in the transaction.
Located at 6520, 6524, 6528 and 6600 44th St., the property sits on 6.12 acres and was 78 percent leased at the time of sale to 10 tenants including Sherwin Williams and Go Green Sustainability Centers. Built between 1985 and 2005, the property features flexible warehouse space with improved office areas, freeway visibility, and a parking ratio of 3.15 spaces per 1,000 square feet.
South Point Business Park is situated in the South Sacramento submarket with immediate access to Highway 99, offering connectivity to Downtown Sacramento, the Sacramento International Airport and other restaurant and retail options.
“The property received strong interest and several competitive offers. With strong growth projected for Sacramento, the property offers new ownership significant future upside to boost yields,” said Matt Post, Vice President at CBRE in Sacramento.
The Sacramento industrial market remained strong to start 2022 with 341,000 square feet of positive net absorption, according to CBRE Research. Vacancy remained steady at 2.4 percent, a record breaking low since Q4 2021. Following the record low vacancy, Q1 2022 was highlighted by the lowest availability on record. The South Sacramento submarket showed the lowest total vacancy of all submarkets.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.