Situated on 5.5 acres, the 60,804 SF single tenant building attracted interest from a large variety of institutions and private investors due to the various investment strategies available. Investors looked at the opportunity as a covered land play and also as a long-term hold opportunity with the in-place tenant due to the significant barriers to relocation the tenant faced. Team Shannon PCG ran an abbreviated marketing process, generating 12 offers and creating a process that significantly exceeded our asking price. Through the highly competitive process, Optimus Properties was awarded the deal when they offered to go non-refundable on day one.
Client: Transpacific Development Company
Buyer: Optimus Properties, LLC