SACRAMENTO—The Capital Commerce Center is aproperty previously occupied by global food giantCampbell's Soup and served as a major foodmanufacturing plant from its opening in 1947 until Campbell's saleof the property to the sponsor in 2013. At that time, the commercecenter located at 6200 Franklin Blvd. was repositioned as amulti-tenant manufacturing and commercial park. With 500,000 squarefeet of vacant space, as well as additional developable land, theprimarily industrial property on 127 acres is conducive to tenantsof industrial, office or retail space.
Secured by the industrial center, a $13 million floating-rate,non-recourse loan from a private specialty finance lender wasarranged by Mission Capital Advisors' debt andequity finance group. The Mission Capital team of GreggApplefield, Alex Draganiuk and LexingtonHenn represented affiliates of Hackman CapitalPartners LLC and Rabin Worldwide Inc.,the joint venture that purchased the property in 2013, in securingthe financing.
"After acquiring the site in 2013, the sponsor has rapidlyleased 60% of the property to major tenants," said Applefield."Despite the property's previous specialty use, ownership has madethe necessary renovations, outfitting the facilities for moderntenants and effectively repositioning the Capital Commerce Centeras a multi-tenant manufacturing and commercial park."
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
