properties

California: 800 E. Pescadero Ave - Tracy

Gross Building Size:
166,000 square feet plus 14 acres of land

Investment History: One of three distribution warehouses purchased and leased back to a regional wholesale and 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 developable land. Seagate subsequently developed and leased a 285,000 square foot warehouse on the excess land.

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