CBRE, Inc. is pleased to present the opportunity to acquire Expo Centre (“The Park”), seven recently updated multi-tenant small bay buildings totaling 121,816 SF located minutes from downtown Sacramento. The institutionally owned and operated park has seen $5.6M in capital investment since 2018 and is 65% leased to 27 tenants from twelve different industries, offering both a stable cash flow and a staggered rollover.
The Park is centrally located just three miles from downtown Sacramento and is proximate to the highly visible confluence of I-80 and CA-160 providing excellent access to retail amenities. With extremely limited new construction in the Sacamento market and a lack of small bay construction across the western U.S., Expo Centre offers an opportunity for tremendous rent growth. Expo Center provides a significant mark to market opportunity with below market rents and 2.4 years of WALT remaining.
Investment Highlights
* Unique value-add lease up opportunity | Current occupancy of 65% within a 97% occupied submarket.
* Limited capital expenditures required | Ownership has completed a full property repositioning, including office to industrial conversions which will accelerate absorption.
* Strategic infill location | ~3 miles from downtown Sacramento, excellent visibility and access to multiple freeways and retail amenities.
* Tightest industrial market in Sacramento | Currently 96.8% occupied.
* Stable and diversified cash flow | Leased to 27 tenants with staggered rollover and no industry accounting for more than 17% of the park.
* Significantly below replacement cost | Estimated to be $383 PSF.
* No new supply | Sacramento is the most supply constrained submarket in Western US with 0.1% of market inventory under construction.