BentallGreenOak Acquires 308,780 SQFT Metro Air Park Logistics Center in Sacramento for $55.4MM

BentallGreenOak, Badiee Development, Metro Air Park Logistics Center, Cushman & Wakefield, San Diego, Sacramento, Bay Area

SACRAMENTO, Calif. – January 17, 2023 –  Badiee Development, a San Diego-based full-service real estate development company specializing in the ground-up development of distinctive logistics and industrial projects throughout the Western U.S., recently completed construction of Metro Air Park Logistics Center – Phase I in Sacramento, California.

Located on Badiee Drive, Metro Air Park Logistics Center – Phase I comprises two new Class A industrial buildings totaling 308,780 square feet (sf). Badiee Development recently sold the two-building portfolio on a forward basis to BentallGreenOak.

Jeff Chiate, Rick Ellison, Mike Adey, Brad Brandenburg, and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group (IAG) represented Badiee Development in the disposition.  

Metro Air Park Logistics Center – Phase II is currently under construction and will consist of a 109,300-sf freestanding building that is scheduled for completion in spring 2023. The Cushman & Wakefield IAG team is also expected to close on the sale of Building III, also to BentallGreenOak, this coming spring.

“Metro Air Park Logistics Center is a core state-of-the-art logistics project positioned in a highly sought-after industrial and growing housing submarket in the Sacramento region. Driven by ongoing population growth—particularly from in-migration from the nearby SF Bay Area—Sacramento’s industrial market fundamentals remain strong,” said Jeff Chiate, Executive Vice Chairman of Cushman & Wakefield’s National Industrial Advisory Group.

Chiate continued, “Overall tenant demand remains healthy, and the region has continued to attract e-commerce users and large distribution occupiers — prospective occupiers have been more attracted to newly built, high-quality facilities to better fit their operations, which is a key attribute of the Metro Air Park submarket.”

“With close proximity to major freeways such as the I-5 and Highway 99, diverse suite sizes providing superior leasing optionality, and best-in-class building features make Metro Air Park Logistics Center – Phase I & Phase II an ideal long-term investment,” added Vice Chairman Rick Ellison.

Metro Air Park Logistics Center Building I consists of 183,088 sf and is situated on 10.5 acres. Divisible to four (4) 40,000 sf suites, the building features 36’ clear height, 56 trailer and 155 auto parking stalls, 14,000 sf of office space (built-to-suit), and 31 dock high and 2 grade level doors.  Building II consists of 125,692 sf on nearly 7 acres. Divisible to two (2) 60,000 sf suites, the building features 32’ clear height, 103 auto stalls, 10,000 sf of office space (built-to-suit), and 21 dock high and 2 grade level doors. Both buildings feature ESFR sprinklers and heavy power.

According to Cushman & Wakefield’s latest Q3-2022 market report, overall industrial market vacancy in Sacramento remained tight at 2.9%. The market had recorded 1.4 million square feet of occupancy growth through the first three quarters of 2022.

West Coast Commercial Real Estate News