Industrial deal wraps in Northern California

Buildings located within business park

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Lee & Associates brokered the sale of two industrial buildings in Pleasanton, Calif., in a deal comprising nearly 49,000 square feet. The total value of the transaction was $9 million. The buildings, located inside The Valley Business Park, are located back to back from each other. The first property is 28,137 square feet and is located at 1072 Serpentine Lane. This building was fully leased to two local tenants, Peregrine and Peridot, at the time of sale. The second property is 20,860 square feet and is located at 1220 Quarry Lane. This single-tenant industrial building is home to Severn Trent Laboratories, an environmental testing company with laboratories in the United States and the United Kingdom. San Francisco-based McMorgan Institutional Real Estate Fund sold the property to Gerald Hodnefield Trust. Lee & Associates is a regional commercial real estate services provider with more than 30 offices located in California, Arizona, Nevada, Missouri, Illinois, Michigan,...