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11/27/20
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Elion Partners paid $23 mil for a 95k sf ($242/sf), fully leased industrial building in Union City, in the East Bay. Originally constructed in 1979, the property is situated on 4.56 acres at 33401 Central Ave.
The single-tenant property was renovated in 2019 and features tilt-up construction, 26-foot clear heights, 12 dock-high doors, one grade-level door, skylights and a low office finish. The property sits within the core I-880 East Bay Industrial submarket, the Bay Area’s most sought after, infill industrial submarket. It is off Interstate 880 and CA-238 and provides easy accessibility to Oakland International Airport, San Francisco International Airport and the Port of Oakland.
Ryan Sitov, Mark Detmer and Andie Fezell with JLL Capital Markets team represented the seller, GJK Properties LLC. Jason Ovadia and Eddie Shuai with JLL structured a lease for a new entity to lease the property from the new owner.
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