EQT Real Estate is excited to announce that EQT Exeter Industrial Value Fund VI has acquired a 2.04 million-square-foot portfolio of modern logistics facilities located in Manteca, California.
Comprising four Class A buildings, the portfolio is strategically located near Interstates 5 and 99, with direct access to a major Union Pacific intermodal terminal, facilitating efficient distribution across Northern California and the broader West Coast.
Fully leased to four tenants spanning diverse industries, the properties present significant near-term upside. With a weighted average lease term of less than three and a half years, the portfolio offers strong potential for rental growth. The facilities meet modern bulk distribution standards, featuring 36-foot clear heights, a mix of cross-dock and single-load configurations, generous trailer and auto parking, and excellent truck circulation.
Situated in California’s Central Valley, one of the state’s fastest-growing industrial hubs, the assets benefit from proximity to major population centers, robust transportation networks, cost efficiencies, and an expanding labor pool. The region continues to attract large-scale distribution activity due to its connectivity and economic advantages.
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.
