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STOCKTON, CALIF. — CT Realty has sold a newly built, 1.1 million-square-foot industrial facility in Stockton. Bentall Kennedy Limited Partnership, on behalf of its U.S. Core Fund, acquired the asset for $105.3 million. The property is the first phase of development at the 342-acre NorCal Logistics Center. Located at 4532 Newcastle Road, the facility was fully leased to Amazon at the time of sale. The second phase of the NorCal Logistics is under construction and includes 2.7 million square feet spread across five buildings in a mix of speculative and build-to-suit projects. The next building — a 709,556-square-foot facility — is slated for completion at the end of August.

RIVERSIDE, CALIF. — Invesco Real Estate has purchased Meridian Distribution Center II, located at 22000 Opportunity Way in Riverside. Sun Life Assurance Co. of Canada, through its advisor Bentall Kennedy, sold the property for an undisclosed price. Newcastle Partners completed construction of the 503,592-square-foot property earlier this year. Situated on 26.9 acres, the facility features 36-foot interior clearance, 88 dock-high doors, 150 trailer parking stalls and 217 car parking spaces. The property is part of the master-planned Meridian Business Park, an industrial campus comprising more than 1,290 acres west of the Interstate 215 Freeway. At build out, the campus will feature 16 million square feet of space. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield’s Ontario, Calif., office worked with Jeff Chiate, Jeffrey Cole, Mike Adey and Ed Hernandez of Cushman & Wakefield’s Capital Markets team in Irvine, Calif., to represent the buyer and seller in the transaction.