DiGiacomo Group Negotiates Double-Header Valued At More Than $17 Million
Roger Zuniga and Stephen DiGiacomo represented AllPlus Computer Systems in the transactions.
Roger Zuniga and Stephen DiGiacomo represented AllPlus Computer Systems in the transactions.
The property consists of two recently developed rear-load 32-foot clear industrial distribution buildings containing approximately 402,000 square feet on 19.0 acres.
CBRE’s Christian Lee, Chris Riley, José Lobón, Amy Julian, and Royce Rose represented Butters in the transaction.
“Modern, last-mile logistics centers like Bridge Point Commerce Center continue to outperform the market,” said Kevin Carroll, Partner, Southeast Region of Bridge Industrial. “We are pleased to have been able to take advantage of historically low interest rates and lock into an extremely attractive fixed rate.”
JLL marketed the property on behalf of the seller, KDD Enterprises Inc., which has owned the property since it was developed in 1995.
Once completed in the spring of 2022, the project will be a state-of-the-art warehouse facility with modern features such as a 36-foot clear height and 110 dock-high doors.
With a sale price of ±$185 per square foot, the sale established a new high watermark for small bay warehouses.
The new lease represents a 53,000-square-foot expansion.
At 17,000 square feet, the building is relatively small, showing that the unquenchable investor appetite for industrial space has led to a scarcity of big properties for sale, and investor willingness to turn to smaller buildings.
The site is currently zoned for T6-24A-0, which will allow for a building up to a height of 48 stories. The site is also located within a federally designated Opportunity Zone.
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