AMERICAN CANYON, CALIF. — Intersection has acquired 5555 Broadway Street, an industrial property in the Napa County city of American Canyon. The name of the seller and acquisition price were not released.
The 89,000-square-foot building is a temperature-controlled warehouse with a night-air cooling, which is ideal for beverage storage and distribution. Situated on seven acres, the building features five grade-level doors, eight dock-high doors including four with levelers, 18-foot to 23-foot warehouse clearance and 9,000 square feet of office space. The property also includes three acres for additional outdoor storage space.
At the time of sale, the building was 98 percent occupied. Intersection plans to bring the property to market-rate rent values and implement capital improvements to the asset.
Kris Hagar and Tyler Epting of Newmark represented the buyer in the transaction.