SAN DIEGO – October 27, 2022 – CBRE has secured an $11.2 million loan to acquire 5555 Broadway Street, an 85,000 sq. ft. temperature-controlled warehouse in American Canyon, Calif.
Bill Chiles, Scott Peterson and Colby Matzke with CBRE Capital Markets’ Debt and Structured Finance team in San Diego secured the full-term interest-only bridge loan on behalf of the buyer, Intersection Equities, a San Diego-based commercial real estate firm. The company plans to make strategic capital improvements to rebrand the property and enhance the facility’s appeal to prospective tenants.
“Intersection is acquiring an exceptional asset that will create considerable interest from users given its direct frontage along State Highway 29, proximity to wine country, and easy access to the entire San Francisco Bay area,” said CBRE’s Peterson. “The market’s low vacancy and record-breaking absorption position the property well for future success.”
Situated on 7.2 acres, the property was built in 1978 and includes 75,000 sq. ft. of specialized warehouse space conditioned for wine storage and refrigeration. The building also has over 9,000 sq. ft. of office and shipping space, as well as approximately two acres of excess yard that caters to a wide array of users in the American Canyon market.
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.