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10/03/14
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LBA Realty has acquired a 121.8k sf warehouse/distribution facility situated on 6.6 acres in Santa Clara. The freestanding property, located at 2899 Mead Ave, was sold by Morgan Stanley Real Estate Advisors.
The building is 100% leased to a variety of non-traditional warehouse tenants, including sports and recreational users K1 Speed, City Beach, Pump It Up and All-Star Academy. The property is located in a rare zoning area in which the City of Santa Clara General Plan has designated as an Exception Area for Places of Assembly and Entertainment.
Eric Fox, Robert Gilley and Steve Hermann of Cassidy Turley provided capital markets advisory services in the deal. Jim Kovaleski and Craig Kovaleski, also with Cassidy Turley, provided leasing market advisory services.
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