West Sacramento, Ca., August 09, 2022—Portland-based Schnitzer Properties has announced the acquisition of Seaport Industrial Park, located in the West Sacramento submarket of Sacramento, California. Situated on 11.3 acres and comprised of three buildings totaling 225,626 square feet, this strategic location is close to the region’s major transportation infrastructure, providing direct access to neighboring regions.
Seaport Industrial Park is surrounded by a variety of notable corporate neighbors, including McKesson, AT&T, Frito Lay, Hunter Douglas, Prism Logistics and the West Coast USPS Distribution Center.
“We have been investing in Sacramento since 1994! With the addition of Seaport Industrial Park, our Sacramento holdings are now in excess of 3 million square feet, with over 300 tenants!” said Jordan Schnitzer, President of Schnitzer Properties. “We are breaking ground in Roseville on 250,000 square feet of flex industrial later this year and are excited to have purchased over 100 acres at Metro Air Park, on which we can develop 2 million square feet. We want to help Sacramento continue to be a wonderful region to work and live!”
Bret Hardy, Executive Managing Director of Newmark Industrial Capital Markets, brokered the deal, along with Kevin Jasper, Senior Managing Director in Newmark’s Sacramento office. Kevin said, “When Bret first approached me about assisting him in marketing this project, I knew it would be a great asset for a company like Schnitzer Properties, that is so well entrenched in the West Sacramento industrial market. Having worked in the West Sacramento industrial market for over 25 years, I know that functional, well-located buildings like these tend to stay occupied.”
“We are fortunate to add this strategic industrial project, and it’s five diverse tenants, to our portfolio for long term growth in Sacramento,” said John Shorey, Senior Vice President-Regional Manager, Sacramento, at Schnitzer Properties, “Located in the heart of the Port of Sacramento Industrial Park, Seaport provides ideal distribution access for our tenants and is conveniently adjacent to many of our other industrial property locations.”
The Greater Sacramento region has become one of the fastest growing metros in the United States. It is the closest major submarket to the San Francisco Bay Area, making it a huge draw for big business. Sacramento is a notable financial center on the West Coast and a major hub for the education, healthcare and agricultural sectors.
About Schnitzer Properties
Schnitzer Properties is a privately-owned real estate company that acquires, manages and develops properties for its own portfolio. The company owns and operates 28 million square feet of office, multitenant industrial, multi-family and retail properties in six western states. Headquartered in Portland, Oregon, Schnitzer Properties has regional offices in Portland, Seattle, the San Francisco Bay Area, Sacramento, Las Vegas, and San Diego.