Newmark arranged the sale of Shaw Commerce Center, a premier shallow-bay industrial portfolio located at 4603 N Brawley Ave and 4055-4069 W Shaw Ave in Fresno. Executive managing director Andrew Briner, associate director Aaron Banks, co-head of U.S. Capital Markets Kevin Shannon, vice chairman Ken White and associate director Luke Easton represented the seller, EastGroup Properties. The buyer was Graceada Partners.
The portfolio comprises six shallow-bay industrial buildings totaling 398,100 square feet on 22.6 acres. The buildings range in size from 22,500 to 111,200 square feet and are occupied by 25 unique tenants. The property was 94% leased with in-place rents approximately 13% below current market levels, providing significant embedded upside potential.
“The sale of Shaw Commerce Center reflects the continued demand for high-quality, shallow-bay, infill industrial product in Central California,” said Banks. “The portfolio’s functional design, diversified rent roll and embedded upside offered a compelling investment profile that resonated with prospective buyers and drove a competitive process.”
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