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Prologis Claims Central Valley Logistics Facilities from CT for $47M
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San Francisco-based Prologis acquired two newly-constructed industrial buildings within CT’s NorCal Logistics Center in Stockton, CA for $47 million. The buildings total 575,127 square feet and mark the initial completion of CT’s three-building Phase I development of the larger 4.4 million-square-foot NorCal Logistics Center.
Prologis paid roughly $82 per square foot for the buildings, which were unleased and in shell condition at closing.
CT’s Carter Ewing says, “These transactions reflect the high demand for world-class logistics facilities in major distribution markets nationwide. The speed with which these buildings transacted following completion mirrors the strong interest we are experiencing in several other projects we currently have underway.”
CT was represented by Kevin Dal Porto, Blake Rasmussen and John McManus of Cushman & Wakefield. Prologis was self-represented.
The 345-acre NorCal Logistics Center site was acquired by CT in May 2017, and is home to General Mills, KeHE Foods, Allen Distributors and Fox Head.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


