The park is situated in Rancho Cordova. Mercantile GPRV Partners 12 LLC was the purchaser, gaining several buildings located in Mercantile Drive in return for their investment. The purchasing LLC could use catalog printing in West Sacramento for promotional purposes when it has a clear idea of what it aspires to do with the entire space.
A business called 'Newmark Cornish & Carey' (NCC) was in part responsible for the sale process and worked on behalf of the original owner of the area. The buildings were never placed on the market in a conventional way. Parties who were potentially interested in what was on offer were approached instead.
Peter Winterling, who is employed by NCC, has said:
“For us, it was a good opportunity to get a complementary user out there.”
Some of the buildings that were sold had deals attached to them when the sale went through. With vacancy rates for industrial property in regional decline, demand has been on the high side according to Winterling. This could lead to higher rental values for the new property owners.
Todd Sanfilippo represented the buyer of the buildings. Sanfilippo has been employed by CBRE Sacramento and will no doubt be pleased that few repairs are needed on the purchases.