Bentall Kennedy (U.S.) Limited Partnership has acquired a fully leased industrial building at NorCal Logistics Center in Stockton, Calif., on behalf of its U.S. Core Fund.
Completed in 2018, the newly constructed building is a best-in-class cross-docked warehouse totaling 1.12 million square feet on 53.52 acres. The seller of the property is a partnership between CT Realty and Diamond Realty Investments. CT Realty will be retained as the property manager.
“NorCal Logistics Center was developed to serve the demands of today's most progressive logistics users while meeting the most stringent institutional investor demands,” said Carter Ewing, managing partner at CT Realty.
“Our investment in the NorCal Logistics Center building represents an opportunity to generate long-term, attractive returns for our fund given that its quality stands out in the marketplace and the space is fully leased to a strong credit tenant,” said Steve Reents, senior vice president
