Crystal View Capital Fund I, LLC is pleased to announce its acquisition of 1104 J St Marysville, CA. The transaction was an off-market sale of a 28,193 square foot industrial building on 1.58 acres.
1104 J St is a unique opportunity to purchase a value-add industrial asset well below replacement cost. “At $750,000 or $26 per sq ft, this asset is being acquired for a very attractive price. We are optimistic about our ability to lease this property in the reasonably near future due in part to the limited supply in that submarket, and also the high barriers to entry. Based on our acquisition price, we can afford to be aggressive with leasing rates and still realize a strong return on this asset,” said Matthew Ricciardella, Managing Partner at Crystal View Capital.
Price: $750,000 or $26 per sq ft.
Construction: Concrete tilt up built in 1966, sprinkler system, 4 loading docks, 28 ft ceiling height.
Occupancy: Vacant at closing.
Ownership’s Plan: Lease the property to a national or regional tenant on a long term NNN lease.