Cal Sheets-Leased Airport Gateway Center in Stockton Hits Market for $28.5MM
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
The 1999-built, rail-served building near Stockton Metropolitan Airport is listed at about $140 per square foot, just under its 2023 sale price. Its tenant, Cal Sheets, has been there since the building opened and has…
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