Intercontinental Real Estate Corp., in a joint venture with Kennedy Wilson, has acquired the Stockton Commerce Center, a 655,976-square-foot warehouse and distribution facility in Stockton, California, for $71.8 million. The seller remains undisclosed but is believed to be associated with DRA Advisors. The Class B property, spanning 36.7 acres and completed in 1988, is strategically located near key transportation hubs. This acquisition adds to the joint venture’s portfolio in the area, emphasizing the growing demand for industrial spaces in the Central Valley. The transaction was facilitated by Cushman & Wakefield’s National Industrial Advisory Group West.
Real Estate, Industrial/ Warehousing,United States, California
https://www.commercialsearch.com/news/intercontinental-kennedy-wilson-buy-central-valley-asset-for-72m/