Powerline Business Park Trades As Part Of Stockbridge Capital Group 1.7 MSF Disposition

Cushman & Wakefield announced the firm’s National Industrial Advisory Group (“IAG”) has advised Stockbridge Capital Group in the disposition of an approximately 1.7 million-square-foot  multimarket light industrial portfolio known as Project RedHawk.

The portfolio was sold in four separate transactions to two different buyers between December 2023 and January 2024 and comprises four sub-portfolios totaling 49 buildings well-located in four major markets: Powerline Business Park in Pompano Beach; Gateway University Park I & II in Tempe, Arizona; Junction Business Park in San Jose (Silicon Valley), CA; and Montbello Industrial Portfolio in Denver, CO.

Powerline Business Park and the Montebello Industrial Portfoliowere acquired by a partnership between a global manager of alternative investments and Brennan Investment Group. Gateway University Park I & II and Junction Business Park were acquired by BKM Capital Partners.

Jim Carpenter and Will Strong of Cushman & Wakefield’s National Industrial Advisory Group together with IAG’s Kirk Kuller, Michael Matchett, Molly Hunt, Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Jeff Chiate, Rick Ellison, and Matthew Leupold, in partnership with Robert Buckley, Tracey Cartledge, Scott Prosser, Steve Hermann and Jack Depuy, also of Cushman & Wakefield, represented all parties in the transaction(s).

A Cushman & Wakefield Equity, Debt & Structured Finance (EDSF) team of Gideon Gil, Lauren Kaufman, Cecelia Galligan, Dale Braverman, Jason Hochman, Ron Granite, Rob Rubano, Brian Share and Max Schafer also represented the buyer in securing its acquisition financing for Powerline Business Park and Montbello Industrial Portfolio. The lender was a global insurance and investment management company.