Colliers arranged the off-market sale of a 935,120-square-foot industrial facility at 18100-18300 Harlan Rd. in Lathrop, just south of Stockton in the Central Valley. A private family buyer acquired the asset from CenterPoint Properties for $84,950,000.
Representing CenterPoint Properties, Colliers’ West Industrial Capital Markets Team, comprised of vice chair Michael Kendall, SVPs Gian Bruno and Nick Mascheroni, VP Kenny Patricia and associate Kylie Jones, led the disposition process. Executive managing director and Vice Chair Michael Goldstein, vice chairs Ryan McShane and Greg O’Leary, and EVPs Alex Hoeck and Wes Widmer provided local market expertise.
“This sale highlights investor demand in the region for well-located, functional warehouse space that is stabilized with investment-grade credit,” said Kendall.
Constructed in 2003, the asset has maintained stable occupancy, with the Home Depot Distribution Center as the sole tenant since 2007
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