CT Realty sells Northern California logistics building for $105m to Bentall Kennedy U.S. Core Fund

Newport Beach, Calif.-based CT Realty has sold a newly-built 1,122,341-square-foot industrial building to Bentall Kennedy (U.S.) Limited Partnership on behalf of its US Core Fund for $105.3 million, marking CT’s completion of the first phase of development at the 342-acre NorCal Logistics Center in Stockton, Calif. The building, previously one of the largest spec industrial developments in Northern California, was 100 percent leased to Amazon at time of sale.

Located at 4532 Newcastle Road, the building is within close proximity of two intermodal rail facilities and multiple interstate highways, serving all major Northern California markets and key Western U.S. destinations. The region is an extension of a global logistics supply chain infrastructure that links to West Coast ports in Oakland/Stockton, Los Angeles/Long Beach, Portland, Ore., and Seattle/Tacoma.

The second phase of development at NorCal Logistics Center is under way and includes 2.7 million square f