HFF announces $10.2M sale leaseback and $6.4M financing of
Bay Area office and R&D facility
SAN FRANCISCO, CA – May xx, 2019 – HFF announces the $10.2 million sale and $6.4 million
financing of 37955 Central Court, a 43,557-square-foot, mission-critical office and R&D facility
100% leased to California Brazing in Newark, California.
The HFF team represented the seller, Dallas-based Trive Capital. Mandel Management purchased
the asset in a 1031 exchange and immediately executed an 18-year lease with California Brazing,
which was acquired by the seller through an acquisition of the company late 2018. In addition, HFF
worked on Mandel Management’s behalf to secure a 10-year, fixed-rate acquisition loan through
Wells Fargo Bank. California Brazing has owned the property, which had served as its
headquarters, since 2011. HFF structured the sale leaseback to free up additional capital for
California Brazing’s growth initiatives.
37955 Central Court totals 43,557 square feet, consisting of 33,557 square feet of
manufacturing/R&D space along with 10,000 square feet of office. The single-story building is
situated on 3.15 acres proximate to Interstate 880 and CA-84, which provides accessibility around
the San Francisco Bay Area. California Brazing is a leading manufacturer of brazing services for
aluminum and high temperature metals. The company leverages its furnace brazing capabilities
with computer numerical control (CNC) machining services to provide its customers turn-key
manufacturing services for use in the aerospace and semiconductor markets.
The HFF investment advisory team representing the seller was led by director Alec Haley.
HFF’s debt placement team representing the new owner was led by managing director Mark Root
and analyst Taylor Gimian.
Holliday GP Corp. (“HFF”) is a real estate broker licensed with the California Department of Real
Estate, License Number 01385740.
About Trive Capital
Trive Capital is a Dallas, Texas-based private equity firm managing more than $2 billion in capital.
Trive focuses on investing equity and debt in what it sees as strategically viable middle-market
companies with the potential for transformational upside through operational improvement. Trive
seeks to maximize returns through a hands-on partnership that calls for identifying and
implementing value creation ideas.
The Trive team is comprised of seasoned investment professionals who have been involved in over
70 middle-market transactions representing in excess of $6 billion in revenue across Trive’s
targeted industry sectors and situations. https://trivecapital.com/
About Mandel Management
Mandel Management is led by CEO Frank Mandel who has more than 40 years of experience in
the acquisition and management of shopping centers and net leased properties. Mandel
Management seeks quality single-tenant, net leased properties across the country. Mandel
Management controls a portfolio valued at approximately $300 million. Together with a team of
experienced real estate professionals, attorneys and accountants, Mandel Management has offices
in New York and California, and manages all properties in the portfolio.