Lathrop, Calif., November 27, 2017 – Colliers International announced today the acquisition of, a ±420,000 square foot industrial warehouse/manufacturing building located at 17100 South Harlan Road, in Lathrop, CA by Vertical Ventures, LLC for $21,500,000.
Vertical Ventures, LLC (www.verticalventuresllc.com) is a leading investor, developer and operator of institutional quality commercial real estate assets that focuses on office, R&D and industrial properties in well-established, supply-constrained, submarkets in Northern California.
17100 South Harlan Road is a ±420,000 square foot, warehouse manufacturing building situated on +/-34.6 acres. The building features clear height ranging from 22’- 40’, ample dock loading and trailer/employee parking, rail service, T-5 motion sensor lighting, significant power and over 14 acres of excess land for trailer parking, building expansion, or new development.
Vertical Ventures plans extensive renovations to the property, including new roof, new skylights, interior and exterior paint, new LED lighting throughout, +/- 7,000 sq. ft. of newly-built office space, resurface and restripe existing parking areas, and improvement of a portion of the excess land for trailer parking.
Founder and President of Vertical Ventures, Hamid Rezapour stated, “We are extremely excited to have been able to close this transaction as it will provide us the opportunity to implement our value add investment strategy and enter the extremely active Central Valley industrial market.”
The property provides immediate access to I-5, Highway 120 and I-205 with freeway visibility for signage opportunity, rail served by the Union Pacific Railroad and close proximity to both UP and BNSF intermodal facilities. “This is an extremely rare opportunity to own freeway frontage real estate in a significantly supply constrained market,” said Michael Goldstein, Executive Managing Director of Colliers International’s Stockton office.
Michael Goldstein, SIOR, Ryan McShane, SIOR and Greig Lagomarsino, SIOR of Colliers International’s Stockton and Oakland offices represented the buyer in the transaction. The Colliers International industrial team have been retained as the Exclusive Market representative for the property and will offer the industrial complex for lease/sale.
About Vertical Ventures
Founded in 2004, Vertical Ventures is an established, highly-focused investor, developer and operator of institutional quality commercial real estate assets. The firm concentrates on identifying, acquiring and revitalizing well-located, quality projects that are temporarily undervalued. The firms’ primary focus is on office, R&D and industrial properties in well-established, supply-constrained, submarkets in Northern California. The professionals of the firm average nearly 20 years’ experience transacting and operating real estate and generating attractive investment returns from both institutional and entrepreneurial platforms. Investments are made on a direct and joint-venture basis, in collaboration with select institutional and high-net worth individuals and family offices.
About Colliers International Group
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.
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