CHICAGO - CBRE announced that it has recently completed the sale and leaseback of a three-property industrial portfolio located in the core markets of Los Angeles and New York City. The 139,713-square-foot portfolio is fully leased to Aquamar Holdings, a newly formed platform in the surimi seafood market. Andrew Sandquist, JC Asensio and Briggs Goldberg of CBRE Corporate Capital Markets represented the Michigan-based seller in the transaction. The buyer, a New York-based public REIT, purchased the property in a sale that closed in early August.
"This was a highly coordinated and complex transaction given our compressed timeframe to execute the sale and leaseback," said CBRE's Asensio. "The strong interest in the offering further evidences the robust demand for industrial investments in core-plus submarkets serving gateway cities like Los Angeles and New York City.
The three properties in the portfolio are industrial food-grade production and distribution facilities with a freezer-cooler component. The locations are 9121 Utica Avenue and 10888 7th Street in Rancho Cucamonga, Calif., and 100 Raskulinecz Road, Carteret, NJ.
Aquamar Holdings, a newly formed platform, is a leading manufacturer of a wide variety of surimi seafood products, producing and selling crab flavored seafood to food service, food manufacturing, and retail channels primarily in North America.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue).? The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide.? CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.? Please visit our website at www.cbre.com.