Stockton, CA, March 6, 2017 – Colliers International announced the acquisition of a ±256,671 square foot Industrial Building situated on approximately 15 acres and located at 2845 Boeing Way, Stockton, California by Sean Pathiratne owner from CVICH Stockton, LLC a Buzz Oates subsidiary.
The brand new building features ESFR fire suppression system, 30’ interior clear height, 52 dock-high doors, 6 grade-level doors and 192 Truck Courts. The building is in close proximity to BNSF & Union Pacific Railroad Intermodal facilities.
This building is in addition to the ±165,000 sq. ft. building Pathiratne bought in Stockton 2 years ago. The buildings are leased to Pathiratnes’ various businesses and are used for warehousing and distribution. As the I-880 corridor is getting extremely expensive for warehousing and distribution, the Central Valley is the logical choice for many companies that are looking to warehouse and distribute their products. Greig Lagomarsino stated, “The Central Valley will continue to provide excellent expansion and relocation options for warehousing and distribution users migrating from the San Francisco Bay Area.” Sean has made some significant transactions in selling a ±177,000 square foot building in Fremont at the peak of the market and buying out in the Central Valley, which has a lot of potential for growth.
“Sean made two excellent acquisitions of Class A facilities in the Stockton Airport Submarket. These buildings not only accommodate his expanding companies but also provide the ability of securing tenants that are looking for flexible space options in this very tight market,” said Mike Goldstein.
Greig Lagomarsino, SIOR, Executive Vice President of Colliers’ Oakland office along with Michael Goldstein, SIOR, Executive Managing Director of Colliers International’s Stockton office managed this transaction.
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Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting. Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm.