Kuehne & Nagel Inks Lease to Fully Occupy Bldg. Prior to Acquisition
AMB Property LP has purchased the industrial facility at 150 W. Hill Place in Brisbane, CA, for $6.45 million, or $180 per square foot.
Prior to the closing of the deal, AMB negotiated a seven-year lease with Kuehne & Nagel to fully occupy the 35,800-square-foot building. The property was constructed in 1970 and last sold in 2003, according to CoStar information.
Matthew Squires of NAI BT Commercial in Burlingame, CA, represented the buyer. Bill Allen of Colliers International in Foster City, CA, represented the seller, Yoko C Gates Trust.
AMB is a leading industrial REIT that operates throughout North America, Europe and Asia with a portfolio totaling 140.8 million square feet.
Please refer to CoStar COMPS #1419539 for more information on this transaction.