RREEF acquires 1.5 million sq. ft. of industrial space

UNION CITY, Calif. and SOUTH BRUNSWICK, N.J. – Chicago-based RREEF has acquired the 1,235,740 sq. ft. Alvarado Business Park in Union City, Calif., a 10-building industrial and distribution park. Alvarado Business Park was purchased from The Principal Life Insurance Co., and is 100% leased to 28 tenants. RREEF was represented in the transaction by Stephen R. Silk and W. Jay Borzi of Secured Capital Corp. and J. Russell Sherman and Christopher Aust of Cushman & Wakefield of California Inc.

RREEF has also purchased 231 Herrod Boulevard in South Brunswick, N.J., a 300,000 sq. ft. warehouse/distribution building. Andrew J. Merin, David W. Bernhaut and H. Gary Gabriel of Cushman and Wakefield of New Jersey Inc. represented RREEF in the sale of the property, which was purchased from JP Morgan Investment Management.

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