Sacramento, Calif. – August 2nd, 2021 – CBRE has completed the sale of an industrial property in Rancho Cordova, Calif. for $15.8 million (just over $145 per square foot). Matt Post of CBRE represented the undisclosed buyer. The seller, Corsair Management Limited Partnership, was represented by an outside firm.
Located at 11380 White Rock Road, the 108,441 square-foot property was originally constructed in 1992 on a 7.31-acre lot. The single-tenant building is fully leased to Motion Control Engineering (MCE), a leading elevator control company. The facility features 30’ clear ceiling heights, 119 parking spaces and is approximately 15 miles east of Downtown Sacramento.
“MCE’s triple net lease provides exceptional ease of ownership and secure passive income,” said Mr. Post.
The Sacramento industrial market turned in one of the strongest quarters to date and set new records across several market fundamentals in the second quarter of 2021, according to a CBRE research report. Net absorption for the quarter totaled 3.1 million square-feet which is the highest single-period figure ever recorded, beating the previous record set in the third quarter of 2005 by almost 1.2 million square-feet.
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 2020 revenue). The company has more than 100,000 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.