Overton Moore Properties Acquires Class A Industrial Building in Stockton, CA

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Feb 24, 2011, 07:00 ET

LOS ANGELES, Feb. 24, 2011 /PRNewswire/ -- Overton Moore Properties (OMP) is excited to announce the acquisition of 1780 Industrial Drive, Stockton, CA located within the Massie Industrial Park. The Class A warehouse/distribution building built in 2008 is +/-111,160 square feet and situated on +/-6.43 acres. The building features 30' minimum interior ceiling clearance, an ESFR sprinkler system, and 140' truck court that is fenced and secured. OMP is already underway with building out the office space and making it available for lease or sale. "The entire acquisition process took two weeks and we're very excited about our basis, location within the Stockton market and our competitive pricing advantage compared to the market," noted Timur Tecimer, President of OMP. OMP is actively acquiring assets that are vacant, need re-positioning or have excess land for future development in California, Arizona and Nevada.

Greig Lagomarsino, SIOR, Michael Goldstein, SIOR and Gregory O'Leary, SIOR of Colliers International represented OMP in the acquisition and will market the project on behalf of OMP. "The demand for high quality industrial properties has increased dramatically and we anticipate this trend to continue throughout the year," said Goldstein.

Overton Moore Properties (OMP), founded in 1972, 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 in the market, local market knowledge, deep relationships with tenants and the brokerage community, strong institutional relationships, and impeccable reputation have contributed to its success throughout the past 38 years.

SOURCE Overton Moore Properties