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7/07/25
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EQT Real Estate has acquired the Central Valley Industrial Portfolio—a collection of four Class A industrial assets spanning 2.04 msf across 135 acres strategically located in the heart of Northern California’s Central Valley. The assets were sold by CenterPoint Properties in a deal valued at $264 mil.
The fully leased warehouse facilities, constructed between 2013 to 2019 and located within a five-mile radius, are part of the 190-acre CenterPoint Intermodal Center in Manteca, situated about midway between Stockton and Modesto. The tenants have an average lease term of 3.21 years at 41% below market rents. They include such companies as Amazon, Penske Logistics, 5.11 Tactical and CORE Linen.
The portfolio comprises: 2226 Roth Rd (830.2k sf); 3565 N. Airport Way (764.8k sf); 3201 N. Airport Way (40.7k sf); and 2365 N. Airport Way (60.2k sf). The properties benefit from robust regional transportation infrastructure, connecting it to a market of over 70 million people within a two-day drive. The region also has one of the highest concentrations of industrial employment in the U.S., with continued growth projected.
Colliers West Industrial Capital Markets Team of Vice Chair Michael Kendall, Senior Vice Presidents Gian Bruno and Nick Mascheroni, Vice President Kenny Patricia, and Associate Kylie Jones, in partnership with local market experts Executive Managing Director and Vice Chair Michael Goldstein, Vice Chair Ryan McShane, and Executive Vice Presidents Alex Hoeck and Wes Widmer, exclusively marketed the property and led the disposition and acquisition process on behalf of both parties. Executive Vice President Jeremy Thornton and Senior Vice President Nicole Sayers of Colliers’ Structured Finance Advisory Group provided debt guidance.
In the first two quarters of 2025, the Colliers Central Valley Industrial and Capital Markets Teams have represented CenterPoint in the disposition of 3 msf, valued in excess of $350 mil across the Lathrop and Manteca submarkets.
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