BAKERSFIELD, Calif. – Cushman & Wakefield announced the firm has advised the sale of a fully leased 80,000-square-foot industrial building on 4.7 aces plus an adjacent 15.56 acres of undeveloped surplus land in Shafter (Bakersfield), California. Located at 6850 New Kapittel Ct, the freestanding single-tenant building serves as the headquarters of a high-quality agricultural packaging company.
The buyer, a Private Investor, acquired the property which spans a total of 20.26 acres for $12 million in an off-market transaction. The seller was CJS Partners, LLC.
Cushman & Wakefield’s Scott Reynolds, Wayne Kress and Coby Vance of the firm’s Golden Empire Industrial Team (GEIT) based in Bakersfield represented the buyer in the transaction. The team is currently working with the new owner to market the 15.56 acres of surplus land which the owner may either develop themselves and/or sell the parcels to other developers or owner/occupiers.
“Our team identified this recently constructed property as a great investment opportunity for our client who was seeking to expand their portfolio with a quality industrial asset,” said Scott Reynolds, Senior Associate. “Industrial fundamentals remain strong in the Bakersfield Metro where we continue to see good demand. This is a growing logistical market strategically located in proximity to other key markets making up Central California as well as the Greater Los Angeles market just over “The Grapevine.”
Built in 2016, the existing 80,000-sf industrial building features 28’ clear height, dock and overhead doors, and 5,492 sf of office space. The property is strategically located just off the Highway 99, a major freeway running through Central California, at Lerdo Highway, approximately 10 miles north of Bakersfield.
