OMP Acquires 18231 Murphy Parkway, Lathrop, CA

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Jul 24, 2020, 15:00 ET

LATHROP, Calif., July 24, 2020 /PRNewswire/ -- Overton Moore Properties (OMP) a real estate investor and developer announced today the acquisition of 18231 Murphy Parkway, Lathrop, CA. The property comprises a single-tenant industrial building containing 118,056 square feet located on 11.0 acres of land. The building is fully leased to Simwon America Corp. ("Simwon"), a Tier 1 supplier of Tesla, Inc. OMP plans to expand the current building by roughly 80,000 square feet for Simwon's growing manufacturing demands. OMP acquired the property in joint venture with Invesco Real Estate.

"This was a fast moving, off-market opportunity that required a lot of attention and collaboration between the Buyer, Seller and Tenant. OMP navigated the process seamlessly, Invesco understood the market and was able to act quickly to place capital, in light of the challenging market conditions relating to Covid-19," noted Mike Goldstein, Executive Managing Director of Colliers International.

Both parties were represented by Mike Goldstein, Executive Managing Director and Ryan McShane, Executive Vice President from Colliers International, Stockton/Central Valley office.

Ranked among the largest real estate developers in Los Angeles, Overton Moore Properties (OMP) is a privately held company specializing in real estate development, acquisition, master planning, marketing, asset management, property management, construction management, and financial reporting of industrial, office and mixed-use projects. OMP's long-term franchise value, local market knowledge, deep relationships with tenants and the brokerage community and strong institutional relationships have contributed to its success throughout the past 42 years. OMP has developed and acquired more than 38 million square feet of office, industrial, and mixed-use space, representing over $2 billion in value. The firm has offices in Southern and Northern California and manages over 8 million square feet of space in California.

CONTACT: Janine Walker
Overton Moore Properties
310-354-2465
[email protected]

SOURCE Overton Moore Properties