Silicon Valley-based Bay West Development has sold 40 acres of undeveloped land in Petaluma, Calif., for $20.1 million.
The buyer was Indianapolis-based Scannell Properties, whose official plans for their new development project have yet to be announced.
Located at 500 Hopper Street, Bay West had originally purchased the vacant industrial-zoned property in 2016.
“We marketed this property as an industrial build-to-suit opportunity to a wide audience of buyers and we received strong interest from a number of different investors and developers, even outside the scope of industrial,” said Trevor Buck, executive director. “Scannell proved to be an ideal buyer for this sought-after property given their experience and knowledge of the local area, coupled wit
