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8/04/21
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A 108.4k sf industrial property in Rancho Cordova sold for $15.8 mil, or $146/sf. The property was sold by Corsair Management Limited Partnership.
Located at 11380 White Rock Rd, the property was originally constructed in 1992 on a 7.31-acre lot. The single-tenant building is fully leased to Motion Control Engineering (MCE), a leading elevator control company. The facility features 30’ clear ceiling heights, 119 parking spaces and is approximately 15 miles east of Downtown Sacramento.
Matt Post of CBRE represented the undisclosed buyer. Corsair Management Limited Partnership was repped by an outside firm.
The Sacramento industrial market turned in one of the strongest quarters to date and set new records across several market fundamentals in the second quarter of 2021, according to a CBRE research report. Net absorption for the quarter totaled 3.1 msf, which is the highest single-period figure ever recorded, beating the previous record set in the third quarter of 2005 by almost 1.2 msf.
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