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Cawley Partners Sells Two NorCal Buildings

SAN FRANCISCO-The Dallas-based real estate investor sells 1650 Bay Harbor Pkwy. in Alameda, CA and 10000 Goethe Rd. in Sacramento for a combined price of approximately $28 million.

By Brian K. Miller | Updated on October 29, 2009

SAN FRANCISCO-Cawley Partners of Dallas has sold two Northern California buildings totaling 190,000-square feet to a private investor for a total of approximately $28 million, all cash, according to local industry sources. The two-story, tilt-wall properties are located at 10000 Goethe Road in Sacramento and 1650 Harbor Bay Parkway in the East Bay community of Alameda.

Grubb & Ellis Co., which had the disposition assignment, confirmed the sale in an announcement did not name the parties involved or the negotiated price. The brokers involved, G&E EVP Edward Suharski and brokers Steven Golubchik and Seth McKinnon declined to confirm the information GlobeSt.com obtained from third parties but did comment on a general investment trend.

“We’re seeing a tremendous amount of private capital coming into the market [whereas] institutional capital is mostly still on the sidelines,” Suharski tells GlobeSt.com. “Private capital investors typically seek higher returns than institutions; now that they are able to achieve those returns private investors feel they can compete on pricing,” especially when they bring all-cash offers that promise a quick close.

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