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SACRAMENTO, CA-A portfolio of 19 light industrial and warehouse buildings totaling 929,215 sf has changed hands for $40 million, marking one of the largest industrial sales in the history of the city.

The portfolio is located in Rancho Cordova, on Mercantile Drive and Trade Center Drive, near Sunrise Boulevard and Highway 50. The buildings range in size from 12,800 sf to 135,633 sf. Tenants are mostly service companies, manufacturers and distributors. Occupancy was 97% leased at the time of sale.

The buyer was FJM Investment, a real estate investment company. The seller was the real estate fund of Equitable Life Assurance Society of the United States, which acquired it in 1987 from the developer, Buzz Oates. Cushman & Wakefield’s Chris Wight and Tom Tyer of Colliers International handled both sides of the transaction.

C&W says the transaction is the second largest in the history of the city. The only bigger industrial deal in the city, says C&W, was in 2000, when developer Joe Benvenuti paid $51.1 million for Spieker Properties’ 1.1-million-sf portfolio.

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