A joint venture between Palisade Group and Pearlmark has secured $30 million in first mortgage debt for the acquisition, renovation and lease-up of 7411 Central Ave., a 143,000-square-foot industrial building in Newark, Calif., an industrial submarket in San Francisco’s East Bay. Mesa West Capital originated the loan.
Built in 1998, the fully vacant property sits on 7.95 acres on the corner of Central Avenue and Filbert Street, in the heart of the Interstate 880 Corridor in the Fremont/Newark submarket, the Bay Area’s premier industrial submarket. The building features a 24-foot clear height, 33 dock-high doors, 12 grade-level doors and 310 parking stalls.
The property is accessible to three major airports and Northern California’s largest port, the Port of Oakland. Due to its location, the distribution and warehouse space are in particularly high demand. The region is also a hub for advanced manufacturing, with AI hardware, electric vehicles and robotics represe
