(EDITOR’S NOTE: According to public records, the property generally located at 4757 Bayou Way, which included several parcels, sold for $13,785,000 on June 25th, 2021.)
Sacramento, Calif., July 16, 2021 – Harsch Investment Properties, a privately-owned real estate company, announced today that it has acquired 56 acres of land along Interstate 5 and Metro Air Parkway.
Harsch plans to develop the site with a new multi-phase industrial business park, adding to its growing portfolio in the Natomas submarket. Just south of the subject property, Harsch owns and operates 2.7 million square feet of multi-tenant industrial and office flex properties located in West Sacramento and the I-80 corridor, encompassing North Natomas.
“Having finished construction on the last 2.7 million in the Greater Sacramento metropolitan area, we are excited about this acquisition of 56 acres at Metro Air Park,” said Jordan Schnitzer, President of Harsch Investment Properties. “We have watched Metro Air Park for 20 years and feel now the time is right for our development. We will focus on industrial buildings that are designed for mid-bay, 10,000-square-foot to 50,000-square-foot tenants, which will continue to create employment in the region.”
The site is located adjacent to Sacramento International Airport and 10 minutes north of downtown Sacramento, one of the fastest growing cities in the state, and is well located to serve the growing Natomas community and for regional and statewide distribution via I-5 and I-80. The Metro Air Park area is zoned for industrial, manufacturing, distribution, office, R&D and other commercial uses and offers both small and large lots of over 150 acres to accommodate large distribution facilities or corporate campus locations. Over the past 10 years, the region has seen significant tenant migration and is home to many notable distribution tenants.
Harsch purchased the property from Sacramento-based River Rock Investments, LLC; it is currently vacant and entitled for development. Bill Palmer and Roman Benvenuti of Palmer Capital represented the seller in the transaction.
“The vision that Harsch has for the property is very favorable to the tenants in the marketplace,” said Bill Palmer, President of Palmer Capital. “Harsch is known for providing attractive, efficient, and highly functional assets in the area.”
About Harsch Investment Properties
Harsch Investment Properties is a privately-owned real estate company that acquires, manages and develops properties for its own portfolio. The company owns and operates 28 million square feet of office, multi-tenant industrial, multi-family and retail properties in six western states. Headquartered in Portland, Oregon, Harsch has regional offices in Portland, Seattle, the San Francisco Bay Area, Sacramento, Las Vegas, San Diego and Arizona. Harsch opened its Sacramento regional office in 1997. Today, the portfolio has grown to 2.7 million square feet of multi-tenant industrial and office flex properties, including the award-winning Riverside Commerce Center. For more information, please visit www.harsch.com.