Pine St., Lodi 

DESCRIPTION

This two building 60,200 RSF multi-tenant industrial project was purchased in two separate transactions (4thQuarter 2015 and 1stQuarter 2017) for under $40.00 per RSF. Besides the low basis, we were drawn to the Lodi submarket, which had a limited supply of spaces under 5,000 RSF, the project’s curb appeal, design efficiencies, and access to Highway 99. By implementing an active marketing and management program of the assets, we were able to achieve 100% occupancy within the first year of ownership and have consistently grown rental rates. The project generates over a 20% cash-on-cash annual return.