$15.645M in financing secured for 2630 8th Street in Berkeley, California
JLL Capital Markets represented Cobalt Investment Partners in this transaction
SAN FRANCISCO, May 14, 2024 – JLL Capital Markets announced today that it arranged $15.645 million in financing for 2630 8th St. in Berkeley, California.
JLL worked on behalf of the borrower, Cobalt Investment Partners, and arranged the loan from Berkeley Partners.
The project plan is to redevelop the vacant building into high-end R&D/Advanced Manufacturing space which is in short supply in this market.
The property is centrally located in West Berkeley’s industrial district which is conveniently positioned off I-80/I-580. Over the last few years, Berkeley has become a regional leader in high tech manufacturing, commanding the highest rents and attracting the best tenants in all of the East Bay.
The property benefits from well-developed transportation networks in the area, including highways, ports and airports, which facilitate the movement of goods and materials. Proximity to the Port of Oakland, one of the largest ports on the West Coast, further provides manufacturers with efficient access to international markets and supply chains. The East Bay Area hosts a diverse range of industries, including biotechnology, green technology, food tech and more.
The JLL Capital Markets team was led by Senior Director Erik Hanson and Director Ethan Habecker.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About Cobalt Investment Partners
Cobalt Investment Partners is a group of experienced professionals sourcing quality commercial real estate opportunities in the San Francisco Bay Area. We are focused on constantly expanding our network of trusted industry professionals to enhance deal flow and support along the way.
About Berkeley Partners
Berkeley Partners, along with its affiliated entities, is a fully integrated principal investment firm focused exclusively on industrial real estate. Since 2005, its affiliates have sponsored a series of value-add and core-plus investment vehicles dedicated to the light industrial sector. The Firm’s vertically integrated platform includes competencies in asset management, property management, leasing management and construction management. As of March 31, 2024, Berkeley Partners owns and operates approximately 11.5 million square feet of light industrial real estate with $2.5 billion of assets under management across targeted growth and gateway markets within the United States.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.