Transwestern Represents the Buyer Nearon Enterprises LLC in Acquisition
(OCTOBER 27, 2014 – Sunnyvale, Calif.) – Transwestern today announces it negotiated the acquisition of a 3.1-acre light industrial, storage and yard facility located at 1276 Reamwood Ave. in Sunnyvale, California. Transwestern Managing Director Edward Del Beccaro and Senior Vice President Scott Ellis, represented the buyer, Palo Alto, California-based Nearon Enterprises LLC, in this transaction valued in excess of $4 million.
“With the surge in high-tech development in the region, there is a dwindling supply of sites that can accommodate light industrial users such as construction yards, transportation companies, and truck depots,” said Del Beccaro. “What made this an attractive opportunity for Nearon was its central location in Silicon Valley less than two miles from the new Levi’s Stadium. Nearon should be able to derive income from this investment opportunity in the near-term, while preserving the option to redevelop in the future.”
Previously used as a distribution center for Berkeley Farms, this large paved parcel includes an 18,940-square-foot office and cold storage building, as well as a 22-position cross dock.
Drew Arvay and Fred Elder of Cassidy Turley represented the seller, Berkeley Land Co.
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 38 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern.