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Eiger Capital Acquires 122,000 SF Industrial Building In Sacramento For $24.3M

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SOLD
$24,300,000

California

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Industrial122,000 SF
Sold 02/03/2024
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SOLD

Eiger Capital Acquires 122,000 SF Industrial Building In Sacramento For $24.3M

3950 Duckhorn Drive

See Similar Deals
Industrial122,000 SF
Sold 02/03/2024
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$199
Total Square Footage:122,000 SF
Transaction Type:Sale

The industrial property at 3950 Duckhorn Drive in Sacramento was sold for $24.3 million. Spanning 122,000 square feet, the fully leased building was part of Panattoni Development Company Inc and PCCP LLC's plan for the Natomas Advanced Logistics Center.

Summary of transation details:

  • Property Type: Industrial
  • Transaction Amount: $24,300,000
  • Buyer: Eiger Capital
  • Seller: Abbie Wertheim & Adon Panattoni - Panattoni Development Company Inc; William R. Lindsay - PCCP LLC
  • Broker: Rebecca Perlmutter Finkel - CBRE
  • Address: 3950 Duckhorn Drive
  • Market: Sacramento

Rebecca Perlmutter Finkel from CBRE facilitated the sale of the industrial property, working on behalf of the sellers Abbie Wertheim, Adon Panattoni from Panattoni Development Company Inc, and William R. Lindsay from PCCP LLC. The transaction was a significant strategic move as part of Panattoni's development plans for the Natomas Advanced Logistics Center.

Players

Rebecca Perlmutter Finkel
CBRE
Rebecca Perlmutter Finkel
17 deals$1.1B volume
BROKER

Details

SOLD
IMAGE: Adon Panattoni, Rebecca Perlmutter Finkel, Abbie Wertheim & William R. Lindsay DATE: 02/03/2024 ADDRESS: 3950 Duckhorn Drive MARKET: Sacramento ASSET TYPE: Industrial BUYER: Eiger Capital SELLER: Abbie Wertheim & Adon Panattoni (@APanattoni) - Panattoni Development Company Inc; William R. Lindsay - PCCP LLC BROKER: Rebecca Perlmutter Finkel - CBRE (@CBRE) SALE PRICE: $24,300,000 SF: 122,000 ~ PPSF: $199 NOTE: Panattoni Development, with partner PCCP LLC, sold a fully leased 122,000 sq. ft. industrial building at 3950 Duckhorn Drive in Natomas to Eiger Capital-led buyers for $24.3 million. CBRE's Rebecca Perlmutter facilitated the sale, part of Panattoni's plan for the Natomas Advanced Logistics Center, which includes the neighboring property at 3900 Duckhorn Drive, also fully leased and still owned by Panattoni.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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