Lee Oakland represents Wang Brothers Investments in a Sale Transaction in Richmond, CA
The Parkway Business Center in Richmond California has sold. This property is comprised of three flex/office/industrial buildings totaling 87,785 square feet on 9.8 acres with 3 acres of developable land. The buyer, Wang Brothers Investments, was able to acquire the property at an attractive basis with stable income and will consider options for developing the land in the future. The price is undisclosed.
This transaction is representative of the strengthening North Richmond submarket where investment grade buyers and tenants are currently looking for opportunities as inventory continues to tighten across the East Bay Area.
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