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7/12/21
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The Bendetti Company paid $6.985 mil for a 55k sf ($127/sf) industrial building in West Sacramento. The building, located at 879 F St, was sold by INNOVA Fund I LLC.
Built in 2001, 879 F Street is situated on just over two acres of land and is a part of the F Street Commerce Center. The property includes fully insulated warehouses and newer concrete tilt-up construction. Additionally, it is centrally located within the greater Sacramento region.
Alan Pekarcik and Chris Smith with Avison Young represented The Bendetti Company in the deal. The seller was repped by Kevin Jasper of Newmark.
“This transaction marked the buyer’s second acquisition in the greater Sacramento market,” said Smith. “This is one of the hottest industrial markets on the West Coast which has seen a steady increase in rental rates over the past year. With a limited supply of value-add multi-tenant industrial product on the market today, the asset was heavily pursued by investors and received multiple offers. The buyer is committed to this market long-term and feels rents will continue to rise into the near future.”
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