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9/10/26
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A private investor paid $6.9 mil for the West Sussex Portfolio, comprised of five industrial buildings in Fresno. Built in 1971, the 73.9k sf ($93/sf) portfolio is situated on three parcels.
Russ Moroz and Tino Foondos, investment specialists in Marcus & Millichap’s Sacramento office represented the seller, a local firm with longstanding ties to the Fresno area, and procured the buyer, Nima Gabbay, a San Francisco Bay Area investor. The buyer has a longstanding history of improving underperforming properties and plans to complete a series of improvements to the property as part of a value-add strategy to enhance the asset over time.
“The buyer, a longtime client completing a 1031 exchange following the sale of a San Francisco apartment property, recognized the opportunity to make a strategic first investment in the Fresno market, which continues to show resilience,” commented Moroz. “The transaction reflects the strong investor interest we continue to see for small-bay industrial properties, including in secondary and tertiary submarkets.”
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