“The Mid-Counties market has experienced continued positive net absorption, rental rate growth and property appreciation,” said Smith. “This property is located near two major transportation arteries, and it has an existing tenant in Sun Opta Food Group. This is a unique opportunity whereby the buyer will be able to hold the building in its real estate inventory and then occupy it when the current lease expires. As a result, we were able to structure the transaction to meet not only everyone’s financial requirements, but their timing needs as well.”
Built in 1960, the property, which is located between Interstates 5 and 91, is a freestanding facility that is situated on approximately 2.44 acres. The property contains 23,000 square feet of high cube freezer area, approximately 20,000 square feet of food processing area with floor drains, six dock high positions and loading areas on two streets.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin that house more than 750 brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.