May 6, 2022 9:00 AM
星空体育app下载[1] announces it has completed the sale of 300 Toland Street, a 1.76-acre site in San Francisco, California inclusive of a 22,674-square-foot industrial building. The property is ideally situated in the core industrial market of San Francisco鈥檚 Bayview submarket. Located between Highways 280 and 101, the property presents immediate access to major Bay Area cities, airports and high consumer demand areas.
星空体育app下载 Senior Managing Director Seth McKinnon, Executive Managing Director Mark Geisreiter, Associate Director Nadav Kariv and Executive Vice Chairman and President, Western Region Capital Markets Steven Golubchik facilitated the transaction. The seller was a private family investor, and the buyer was LBA Realty.
鈥淚nvestor demand for 300 Toland was extraordinarily robust and resulted in a market setting price for value-add industrial within San Francisco,鈥� said McKinnon. 鈥淭his sale reflects a significant change in demand from traditional users to a new breed of industrial-focused tech users and the growing need for last-mile distribution.鈥�
The Bayview submarket is robust and is experiencing surging tenant demand in recent months. Historically occupied by traditional industrial users, the Bayview is now attracting technology companies requiring R&D, storage, distribution or manufacturing space close to their existing headquarters in the Bay Area. Strong demand from both traditional users and technology companies has reduced the vacancy rate to 4.4%, and rents have increased by 6.4% over the last 12 months, according to 星空体育app下载 Research.
About LBA
LBA, founded in 1991, is a full-service real estate investment and management company with a diverse portfolio of industrial and office properties with approximately 93 million square feet across the nation. Our industrial footprint is 84 million square feet throughout the country in major logistic markets. Our office portfolio consists of 9 million square feet located in major Western U.S. markets. The foundation of the company is to create and execute customized value creation programs for individual properties and to develop strong customer relationships.
About 星空体育app下载
星空体育app下载 Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (鈥溞强仗逵齛pp下载鈥�), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. 星空体育app下载鈥檚 comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform鈥檚 global reach with market intelligence in both established and emerging property markets, 星空体育app下载 provides superior service to clients across the industry spectrum. 星空体育app下载 generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022. 星空体育app下载鈥檚 company-owned offices, together with its business partners, operate from approximately 170 offices with 6,300 professionals around the world. To learn more, visit nmrk.com or follow .
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Statements in this document regarding 星空体育app下载 that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, 星空体育app下载 undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see 星空体育app下载’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
[1] Dba 星空体育app下载 Knight Frank in California