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June 22, 2024
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SACRAMENTO NEWS
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Sacramento Warehouse Property Acquired with $2.85 Mil Purchase Loan

10/19/15

Bixby Northwest LLC has received $2.85 mil in acquisition financing for the purchase of Pell Drive, a 108k sf, Class A industrial warehouse located at 4291 Pell Drive in Sacramento. The property is situated north of northgate Blvd and east of I-80.

Andrew Behrens, Jesse Weber and Kevin Randles of CBRE’s Capital Markets’ Debt & Structured Finance team arranged the 15-year loan, which was funded by First Community Bank. The full-leverage loan comes with initial interest-only payments. It completed the borrower’s 1031 exchange.

According to CBRE’s Industrial Market Research, Sacramento continues to have a healthy industrial market with tenants expanding and moving within the market. Many companies from outside the Sacramento industrial market continue to look for expansion options in the MSA. Limited Class A Industrial investment opportunities exist within the greater MSA. Occupancy continues to remain tight and rents continue to grow.¹






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