Acquisitions

SAN JOSE, CALIF. — Newmark has arranged the sale of 1710 Automation Parkway, an industrial property located in San Jose. The asset traded for $103.5 million. The names of the seller and buyer were not released. QuantumScape (NYSE: QS), a manufacturer of lithium batteries for electric cars, fully occupies the 196,647-square-foot building. The tenant and former owner made significant improvements to the property to create a state-of-the-art battery development facility. Steven Golubchik, Nicholas Bicardo, Jonathan Schaefler and Darren Hollak of Newmark facilitated the transaction.

LOS ANGELES — Boston-based Longpoint Realty Partners has purchased a 13.4-acre industrial park, including five buildings and two vacant land parcels, near the Van Nuys Airport in Los Angeles. A private ownership group sold the property for $85 million. Totaling 95,600 square feet and originally constructed in 1960s and 1970s, the properties are: a 12,000-square-foot restaurant building at 16320 Raymer St. a 14,700-square-foot industrial property at 16300-16310 Raymer St. a 33,000-square-foot industrial facility at 16251 Raymer St. a 20,000-square-foot industrial asset at 16201 Raymer St. a 15,900-square-foot industrial property at 16161 Raymer St. a 2.5-acre land parcel at 16141 Raymer St. a 1.4-acre land parcel at 8085 Woodley Ave. Jeff Chiate, Rick Ellison, Mike Adey, Brad Brandenburg and Matthew Leupold of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction. Erik Larson, Robin Dodson and Paul Sims of Cushman & Wakefield provided local market advisory for the deal. JLL Capital Markets recently arranged $52 million in acquisition financing for the buyer.