Stockbridge Capital Sells 1.7 MSF Project RedHawk Industrial Portfolio

by Amy Works

SAN FRANCISCO — San Francisco-based Stockbridge Capital Group has completed the disposition of Project RedHawk, a 1.7 million-square-foot light industrial portfolio spread across multiple markets.

The portfolio was sold in four separate transactions to two different buyers between December 2023 and January 2024 and comprises four sub-portfolios totaling 49 buildings in Tempe, Ariz.; San Jose, Calif.; Denver; and Pompano Beach, Fla.

BKM Capital Partners acquired Gateway University Park I & II, a 16-building, 258,409-square-foot asset at 1605-1635 and 1705-1797 W. University Drive in Tempe, and Junction Business Park, a two-building, 119,101-square-foot property at 1911-1943 Hartog Drive and 1914-1968 Junction Ave. in San Jose.

A partnership between a global manager of alternative investments and Brennan Investment Group purchased The Montebello Industrial Portfolio, a 17-building, 856,013-square-foot asset in Denver, and Powerline Business Park, a 14-building, 444,120-square-foot in Pompano Beach, Fla.

Jim Carpenter and Will Strong of Cushman & Wakefield’s National Industrial Advisory Group, along with IAG’s Kirk Kuller, Michael Matchett, Molly Hunt, Mike Davis, Rick Brugge, Rick Colon, Dominic Montazemi, Jeff Chiate, Rick Ellison and Matthew Leupold, in partnership with Robert Buckley, Tracey Cartledge, Scott Prosser, Steve Hermann and Jack Depuy of Cushman & Wakefield represented all parties in the transactions.

Gideon Gil, Lauren Kaufman, Cecelia Galligan, Dale Braverman, Jason Hochman, Ron Granite, Rob Rubano, Brian Share and Max Schafer of Cushman & Wakefield’s equity, debt and structured finance team represented the buyer in securing acquisition financing for Montebello Industrial Portfolio and Powerline Business Park. The lender was a global insurance and investment management company.

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