Bridge Logistics Properties (BLP), a subsidiary of Bridge Investment Group Holdings Inc., has expanded into Northern California with the acquisition of 37580 Filbert St., an 84,482-square-foot warehouse in Newark. The warehouse is 100% leased to Vital Records Control, a leading offsite record storage company, for several more years.
Deal terms were not disclosed. “The Bay Area is an important target market for BLP as we continue to grow our West Coast logistics portfolio,” said Paul Jones, managing director of BLP. “Despite current market volatility we believe in the Bay Area’s long term durability given its dense population, logistics infrastructure, and high barriers to new supply.”
Newmark’s Mark Geisreiter, Mike Spiro and Seth McKinnon facilitated the transaction. “37580 Filbert Street is an exceptional property in a prime location within Newark’s industrial market, and we believe it represents a significant investment opportunity,” said Geisreiter. “This sale underscores Newark’s industrial real estate strength and demand for modern properties, and we look forward to seeing how BLP maximizes the potential of this asset.”