LOS ANGELES, January 8, 2020 – JLL Capital Markets announced that it has closed the $10.6 million ($72 per square foot) sale of a fully leased, 147,840-square-foot, multi-tenant warehouse and distribution building at 7728 Wilbur Way in Sacramento, California.
JLL marketed the property on behalf of the seller, CKMR2 LP, a subsidiary of Massie & Company. An affiliate of STAG Industrial, Inc. purchased the asset.
7728 Wilbur Way is situated on 7.98 acres in the southern part of Sacramento, a Northern California transportation hub, within the Power Inn Industrial submarket. The property is within a day’s drive to six ports, eight major airports and 29 intermodal centers and is within 55 miles of 4.6 million residents. Completed in 1986, 7728 Wilbur Way is triple net leased to two tenants and features 22-24’ clear heights, 21 dock-high doors, three grade-level doors and low office finish.
The JLL Capital Markets team representing the seller was led by Senior Vice President Ryan Sitov and Executive Managing Directors Bo Mills and Mark Detmer along with the JLL local leasing team of Executive Vice Presidents Sean Merold and Mike Zimmerman.
“This is another example of institutional capital recognizing Sacramento’s strong fundamentals as a growing industrial market,” said Sitov.
“Sacramento’s industrial sector is thriving with unprecedented demand throughout the region,” added Merold.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
Jones Lang LaSalle Americas, Inc. (“JLL”) is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About STAG Industrial, Inc.
STAG Industrial, Inc. is a real estate investment trust focused on the acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. As of September 30, 2019, the company’s portfolio consists of 430 buildings in 37 states with approximately 86 million rentable square feet.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.