David M. Solomon Of Goldman Sachs Acquires Industrial Asset In Groveland From Bob Scannell For $97.25M

An industrial asset located at 19800 South O'brien Road in Groveland, encompassing 89 acres. This property features a Wesco Distribution center built in 2023, measuring 990,670 square feet. The transaction was completed at a price of $97,250,000, reflecting a price per square foot of $98.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $97,250,000
• Buyer: David M. Solomon - Goldman Sachs
• Seller: Bob Scannell - Scannell Properties
• Market: Groveland
• Acres: 89
• Square Feet: 990,670
• Price Per Square Foot: $98

In this transaction, David M. Solomon represented Goldman Sachs as the buyer, while Bob Scannell represented Scannell Properties as the seller. This sale reflects the ongoing investor interest in stabilized industrial assets within the market, despite the challenges posed by rising vacancy rates.