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ANTIOCH, CALIF. — The Covington Group has purchased a 650,000-square-foot industrial facility in Antioch, located in San Francisco’s East Bay region. The two-building property is currently 85 percent leased.
The Antioch submarket is known for its logistics groups, warehouse users and light manufacturing companies. This is due to its lower facility costs, a reliable supply of labor and a lower cost of living as compared to San Francisco and Oakland.
Covington was attracted to the asset because it allowed the firm to purchase a near-stabilized asset at a discount to replacement cost.