Phil Belling Of LBA Realty Acquires Industrial Facility From Hamid Moghadam Of Prologis For $42.4M

The asset involved in this transaction is an industrial property located at 2900 North Macarthur Drive, Tracy, California, encompassing 13 acres. The facility, known as the Northeast Industrial Tracy 6, features a total square footage of 283,713 and was sold for a transaction amount of $42,400,000. The price per square foot for the property is $149. The building was constructed in 1999 and is fully leased, currently occupied by Restoration Hardware, and strategically situated near the I-205 and I-580 interchanges.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $42,400,000
• Address: 2900 North Macarthur Drive
• Market: Tracy
• Acres: 13
• Square Footage: 283,713
• Price Per Square Foot: $149
• Buyer: Phil Belling - LBA Realty
• Seller: Hamid Moghadam - Prologis

Phil Belling represented LBA Realty as the buyer in this transaction, while Hamid Moghadam represented Prologis as the seller. This deal reflects the ongoing interest in industrial properties within the Tracy market, underscoring the strategic relevance of the location and its existing tenant.