The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 28, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
Bentall Kennedy Pays $105 Mil for 1.12 msf NoCal Facility Occupied by Amazon

3/28/19

Bentall Kennedy (U.S.) Limited Partnership completed a $105.3 mil industrial acquisition in Stockton on behalf of its US Core Fund. The 1.12 msf ($94/sf) building, previously one of the largest spec industrial developments in Northern California, was 100% leased to Amazon at time of sale.

The asset was sold by CT Realty, marking completion of the first phase of development at CT’s 342-acre NorCal Logistics Center. Located at 4532 Newcastle Rd, 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, OR and Seattle/Tacoma, WA.

“NorCal Logistics Center was developed to meet the demands of today’s most progressive logistics users, and no one embodies this better than Amazon,” said Carter Ewing, managing partner at CT Realty. “It’s only natural, therefore, that a leading institutional investor such as Bentall Kennedy was attracted to the fundamental strengths of this state-of-the-art logistics building and its long-term value proposition.”

The second phase of development at NorCal Logistics Center is underway and includes 2.7 msf in five buildings in a mix of spec and build-to-suit projects. CT is in construction on the first of these buildings, a 709.6k sf building planned for completion at the end of August 2019.

CT is currently in construction on 5 msf of industrial space nationwide, including 1.3 msf of large-scale distribution buildings at Interchange 55 Logistics Park in the greater Chicago area, 800k sf in the Dallas/Fort Worth area, 1 msf in Indianapolis, 1.8 msf in Atlanta, and nearly 100k sf in New Jersey. The company’s current land holdings support the development of an additional 15 msf of industrial buildings over the next five to seven years, and CT is actively seeking additional development opportunities in 2019 for future expansion.






Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media