properties

California: United Grocer's Warehouse - Tracy

Gross Building Size: 166,000 sq. ft. + 14 acres of land

One of three distribution warehouses purchased and leased back to a regional wholesale retail grocery chain with less than investment grade credit. Substantial value enhancement was achieved by Seagate through credit augmentation, subsequent resale of the wholesale division to a much higher credit parent company and by securing entitlements for an additional 500,000 square feet of buildings on the excess development land. Seagate subsequently developed and leased a 285,000 square foot warehouse on the excess land.

back to properties