CBRE Arranges $11.2 Million in Financing for 85,000 SF Industrial Asset Near Napa, Calif.

CBRE has secured an $11.2 million loan to acquire 5555 Broadway Street, an 85,000-sq.-ft. temperature-controlled warehouse in American Canyon, Calif.

Bill Chiles, Scott Peterson and Colby Matzke with CBRE Capital Markets' Debt and Structured Finance team in San Diego secured the full-term interest-only bridge loan on behalf of the buyer, Intersection Equities, a San Diego-based commercial real estate firm. The company plans to make strategic capital improvements to rebrand the property and enhance the facility's appeal to prospective tenants.

"Intersection is acquiring an exceptional asset that will create considerable interest from users given its direct frontage along State Highway 29, proximity to wine country, and easy access to the entire San Francisco Bay area," said CBRE’s Peterson. "The market’s low vacancy and record-breaking absorption position the property well for future success."

Situated on 7.2 acres, the property was built in 1978 and includes 75,000-sq-ft. of specialized warehouse space conditioned for wine storage and refrigeration. The building also has over 9,000 sq.-ft. of office and shipping space, as well as approximately two acres of excess yard that caters to a wide array of users in the American Canyon market.