Sagard Real Estate has added a second Bay Area asset to its industrial outdoor storage (IOS) joint venture with La Caisse, acquiring a fully leased site at 6691 Clark Avenue in Newark, California. The venture was created to buy IOS properties in key US seaport markets, where tenant demand is supported by proximity to major ports, population centres and trade infrastructure.
The Newark property sits in the infill East Bay submarket, roughly 1.7 miles from I-880 and 3.6 miles from SR-84 and the Dumbarton Bridge. Oakland International Airport and the Port of Oakland are 20 to 25 miles away, giving occupiers strong access to logistics networks.
The acquisition extends the partners' footprint in the Bay Area and reflects continued investor interest in outdoor storage assets, which typically serve businesses needing yard space for vehicles, equipment and materials rather than enclosed warehouse space. Because the site is fully leased at closing, the deal provides immediate income from day one.
The transaction builds on the joint venture's existing strategy of targeting seaport-adjacent markets with resilient demand. Further acquisitions in comparable locations could follow as the partners look to scale the platform across US seaport markets.
Source: PE Insights · Summarized by HeadlinesBriefing