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4/22/22
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A unique, 266-acre property in NoCal’s Mount Shasta traded hands in a $7.15 mil transaction. The property, purchased by a Bay Area private investor, sits roughly 60 miles south of the California/Oregon border. The transaction is said to be one of the largest acquisitions of its class in the market north of Redding.
The property is comprised of industrial, low intensity agriculture, and residentially zoned land in Siskiyou County. The acquisition includes a 144.9k sf industrial building at 210 Ski Village Drive, which will offer future tenants dock-high access and proximity to Interstate 5. The property also has unparalleled views of Mount Shasta, making it ideal for future development.
John Troughton and Adam Elomari with Kennedy Wilson Brokerage represented the buyer, One Shasta LLC. The seller was Crystal Geyser Water Company, which acquired the property in 2013. For the greater part of the 20th century, the property was used as a lumber mill. The industrial building was completed in 2001 and used as a bottling facility for Coca-Cola and Dannon Water Products until it was sold to Crystal Geyser.
According to Troughton, the buyer will leverage the property’s proximity to I-5 and ideal location between Northern California and Southern Oregon to attract prospective distribution and manufacturing tenants seeking space of this class with dock-high access.
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