Intercontinental Real Estate, Kennedy Wilson Purchase 877,648 SF Manufacturing Facility in Stockton, California

by Amy Works

STOCKTON, CALIF. — A joint venture between Intercontinental Real Estate Corp. and Kennedy Wilson has purchased Stockton Industrial Park, a manufacturing and distribution facility in Stockton. A New York-based owner and operator of logistics real estate sold the asset for $84 million.

Located at 1604 Tillie Lewis Drive, the three-building park features 877,638 square feet of highly functional and easily divisible space. The facilities feature 24- to 28-foot clear heights, ample dock-high and grade-level loading, and a wide range of unit sizes for warehouse and/or manufacturing purpose. The largest of the buildings, totaling 570,000 square feet, offers direct rail service. At the time of sale, the property was 100 percent leased.

Barbara Perrier, Darla Longo and Rebecca Perlmutter of CBRE, along with Blake Rasmussen and Tyler Vallenari of Cushman & Wakefield, marketed the property for sale on behalf of the seller. CBRE represented the seller in the transaction.

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