REBusinessOnline

GJK Properties Divests of Fully Occupied Industrial Facility in Bay Area for $23M

UNION CITY, CALIF. — GJK Properties has completed the sale of an industrial building located at 33401 Central Ave. in Union City. Elion Partners acquired the asset for $23 million.

Constructed in 1979 and renovated in 2009, the 94,976-square-foot property features tilt-up construction, 26-foot clear heights, 12 dock-high doors, one grade-level door, skylights and a low office finish.

At the time of sale, the property was fully leased. Jason Ovadia and Eddie Shuai of JLL Agency Leasing structured a lease for a new entity to fully occupy the property.

Ryan Sitov, Mark Detmer and Andie Fezell of JLL Capital Markets represented the seller in the deal.

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