CN Fund Management LLC, manager of Park Ave RE Holdings, LLC (“PARE”), (collectively, the “Seller”) has completed the sale of a 170,000 square foot manufacturing facility located in San Bernardino, California. The single-tenant property is occupied under a long-term lease by D&W Fine Pack, a market leader in the food packaging industry and serves as D&W’s hub for all west-coast operations. The buyer was Cabot Properties.
Waldo Bradley, Vice President at Columbus Nova MB LLC, who managed the sale process, commented: “We are confident that our tenant will continue to benefit from Cabot Properties’ institutionally-focused ownership.”
The sale of the property was brokered by Tobias Boessen and Ben Tashakorian at Marcus & Millichap.
PARE is a portfolio company of Business Development Corporation of America (“BDCA”), and was formed to invest in mission-critical sale-leaseback transactions single-tenant net lease properties associated with the middle market private equity community. CN Fund Management LLC is owned by Columbus Nova MB LLC and manages real estate portfolios for institutions and family offices.
About Columbus Nova MB LLC
Please visit http://www.columbusnovamb.com/ for more information about Columbus Nova MB. PARE invests in middle market sale-leaseback transactions and has offices in Charlotte, NC and New York, NY. For information about PARE or this transaction, please contact Amos Beason +1 (704) 285-7750 or Lon Brown at +1 (704) 285-7756. Also, visit us at www.twitter.com/ColumbusNovaMB
Columbus Nova MB LLC, with offices in Charlotte, New York, manages portfolios of real estate assets for a variety of investors in a separate account program. CNMB’s Advisory Group serves middle market businesses by providing buy and sell-side, capital formation and restructuring services on a fee basis. CNMB also manages the Baikal Program, which makes investments in growing businesses and in private equity funds.