48,560 SF hybrid owner-user industrial acquisition

Acquisition of a two-building, 48,560-square-foot industrial property on 1.85 acres, structured as a hybrid owner-user strategy: the 28,560-square-foot front building operated as a contractor overflow logistics platform serving Bay Area specialty trade subcontractors, with the 20,000-square-foot rear building generating stabilizing triple-net lease income. Owner occupancy of 58.8 percent exceeds the SBA 504 minimum of 51 percent by 7.8 percentage points. The $13,752,000 purchase price was validated against a contemporaneous MAI appraisal of $13,800,000 and against replacement cost of $350–$500 per square foot versus the $283.20 contract basis.