- Four-building, Class A industrial portfolio totals 2.04 million square feet in Manteca, California
- Located near major highways and an intermodal rail terminal, the properties sit within a mission-critical logistics hub for regional and last-mile distribution
- Buildings are fully leased to four tenants and offer significant upside from below-market rents and upcoming lease maturities
EQT Real Estate is pleased to announce that EQT Exeter Industrial Value Fund VI has acquired a 2.04 million square foot portfolio of modern logistics facilities in Manteca, California.
The four Class A buildings are strategically positioned near Interstates 5 and 99, with immediate access to a major Union Pacific intermodal terminal, enabling efficient goods movement across Northern California and the broader West Coast.
The properties are fully leased to four tenants across a diverse set of industries, and with a weighted average lease term of less than three and a half years, the portfolio offers significant near-term opportunity to drive substantial rental growth. The assets are built to modern bulk distribution specifications, including 36-foot clear heights, a mix of cross-dock and single-load configurations, ample trailer and auto parking spaces, and excellent truck maneuverability and circulation.
Located in California’s Central Valley, one of the state’s fastest-growing industrial corridors, the assets benefit from proximity to major population centers and transportation infrastructure. The region is increasingly becoming a location of choice for large-scale distribution due to its connectivity, cost advantages, and expanding labor pool.
Matthew Brodnik, Global Chief Investment Officer at EQT Real Estate, said: “This acquisition reflects our conviction in investing behind well-located, institutional quality logistics assets in dynamic markets. With a strong tenant profile, operational upside and clear growth potential, we’re excited to bring these properties into the EQT Real Estate platform and execute our hands-on, locals with locals approach to value creation.”
EQT Real Estate was advised by Michael Kendall, Michael Goldstein, Gian Bruno and Nick Mascheroni of Colliers.
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