Newmark arranged the sale of Sierra Trinity, an 11-building, shallow bay industrial portfolio situated in the East Bay city of Dublin. Executive vice chairman and president, Western Region Capital Markets Steven Golubchik, vice chairman Edmund Najera, senior managing director Darren Hollak and associate director Brendan Raney represented the undisclosed seller and purchaser.
“The marketing process for Sierra Trinity yielded a deep quote pool of institutional, regional and family workplace purchasers,” stated Golubchik. “The competitive marketing process demonstrated the demand for multi-tenant, shallow bay commercial item in infill locations.”
Sierra Trinity, located at 6701 Sierra Ct., was 97% leased at the time of the sale to almost 40 occupants across a range of industries. The residential or commercial property provides strong in-place capital with an average dedication going beyond nine years, in addition to possible future advantage by marking rents to market and a typical rental rate boost of 7% from restoring occupants.
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