STOCKTON, Calif. — USAA Real Estate Co. has acquired 916,000 square feet of industrial space – including a massive freezer – in Stockton in California’s Central Valley, the fastest growing region in California.
CBRE’s Tyson Vallenari, Blake Rasmussen, Kevin Dal Porto and Ryan McShane, represented San Antonio-based USAA in buying the two buildings, with adjacent land.
Building 1 features 30,000 sf of state-of-the-art freezer space and 190,000 sf of state-of-the-art cooler space, making it an almost unique find in Northern California where other cooler/freezer space options are of significantly lower quality and age. The property also features 500,000 sf of dry storage space as well as 32,000 sf of office space.
Building 2, originally built as a speculative, multi-tenant warehouse and distribution center features 165,000 sf of cold, dark warehouse and distribution space. The property, which has only served as a furniture and equipment storage depot, was acquired with an adjacent 2.5 acre lot which can be used to expand parking for auto or trailer parking.
USAA Real Estate Co. President Len O’Donnell said: “Just two hours from the West Coast and the Bay Area, Stockton is enjoying growing demand as a distribution point for industries operating in Northern California.”