A joint venture of LDK Ventures and PCCP LLC has recently sold a newly-completed 617,760 square foot Class A distribution and e-commerce facility in Vacaville, California. The single-tenant property was fully leased to a global Fortune 10 e-commerce company, which information from CommercialEdge suggests is Amazon.

The sale was advised by Cushman & Wakefield and the property was acquired by an unidentified global real estate investment manager for an undisclosed amount. The previous loan on the property was for $51.3 million and it was completed in 2021.

Located at 4800 Midway Road, the facility features 40-foot clear heights, cross-dock loading with 130-foot truck courts, LED lighting, and ESFR fire suppression. Vacaville is situated in Solano County, halfway between San Francisco and Sacramento, providing convenient access to both San Francisco International and Sacramento International airports and the Port of Oakland.

According to Cushman & Wakefield's executive managing director, Steve Hermann, the demand for high-quality industrial properties in the Greater Bay Area region remains robust. Vacaville and the North Bay Area market continue to draw strong e-commerce activity due to its abundant labor and proximity to the geographic epicenter of Northern California home delivery.

The Sacramento industrial space market has seen a resurgence after the COVID-19 pandemic, with total availability falling from 6.9% in 2020 to 5.4% in 2021. Despite a drop in leasing activity in 2021, sales volume increased, as the average asking rent increased to $0.69 per square foot, NNN.

Tthe sale of Amazon's Northern Bay Area distribution center highlights the continued strength of the e-commerce industry in the region and the demand for high-quality industrial properties.