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11/20/24
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EQT Exeter purchased two Class A industrial buildings totaling 1.35 msf in American Canyon, California. The price was not given out.
1 Middleton Way, American Canyon, CA |
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The assets, situated within Napa Logistics Park, include 1 Middleton Way, a 646k sf facility on 41.8 acres, fully leased to IKEA. The property features a 32-foot clear height, cross-dock configuration with 150 loading docks, four grade-level doors and ESFR sprinklers.
The second property, 400 Boone Drive, is a 702k sf building on 37.4 acres, 50% leased to Biagi Bros Inc. The state-of-the-art facility boasts a 40-foot clear height, 130 loading docks, four grade-level doors and ESFR sprinklers.
These strategically located properties are situated just 7.5 miles from the intersection of I-80 and I-680 in Fairfield, providing excellent access to major thoroughfares throughout the Bay Area. The assets benefit from proximity to significant population centers, with 7.4 million residents within a 55-mile radius. Additionally, the properties offer premier access to multimodal transportation options and are surrounded by high-profile corporate neighbors in the area.
Ryan Sitov, Melinda Marino, Glen Dowling, Matt Bracco and Chris Neeb with JLL represented the seller, a global investment advisor.
“The Napa Logistics Park properties offer a rare combination of scale, quality and location in the tightly constrained Bay Area market,” said Sitov. “With their state-of-the-art building specifications and strong infill location, these assets are well-positioned to deliver long-term value.”
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