Jackson Ave Warehouse Sold To Regal Service

Hackman Capital Partners LLC and Calare Properties Inc. have announced the sale of The Jackson Avenue Warehouse at 133 Jackson Ave. in Jamestown.

Regal Service, the buyer, will continue to occupy 100 percent of the 287,959-square-foot distribution facility. Regal Service, a 100 percent employee-owned transportation company, is a 51-year-old entity serving multinational manufacturing companies, as well as the food industry. The company has occupied space in The Jackson Avenue Warehouse since 2011 and, after several expansions, took over the entire facility in early 2014. The company has additional facilities in New York, western Pennsylvania and Maryland.

The Jackson Industrial Center was part of an approximately 11.38-million-square-foot industrial portfolio purchased in 2007 by a joint venture formed by Hackman Capital Partners, Calare Properties and KBS Real Estate Investment Trust. The venture still owns 15 buildings in the portfolio, totaling more than 5 million square feet. More than 4 million square feet of those buildings are located in Massachusetts, New Hampshire and Pennsylvania; the remainder are in Texas.

”Since the portfolio was acquired, we repositioned and rebranded many of the properties,” said Michael Hackman, founder and chief executive officer of Hackman Capital Partners. ”The Jackson Industrial Building’s location, high bays and abundant loading capacity made it a great fit for Regal when they first leased space in it six years ago. We’re thrilled it has continued to meet their needs and very pleased with the sale.”