Bixby Land buys Stockton warehouse-DC
Irvine, Calif.-based real estate firm Bixby Land Co. has signed a deal to purchase a 452,000-square-foot warehouse and distribution center in Stockton for $23.9 million, according to the East Bay Business Times.
Located in the Airport Gateway Center, the facility was built in 1997 as the West Coast headquarters for Dopaco Inc. The food package design and manufacturing firm, with a portfolio including Burger King, Wendy's and McDonald's, has leased the entire facility through 2017.
Stockton warehouse/distribution center purchased by Bixby Land Co. (Courtesy of Google Maps' Street View)
Founded in 1896 with land that would eventually become the City of Long Beach and several surrounding cities, Bixby Land now operates as a Real Estate Investment Trust. The firm has a total portfolio of more than 5 million square feet and a value exceeding $1 billion in assets under management throughout the Western United States. Since 2006, Bixby Land has bolstered its portfolio dramatically, acquiring more than 3 million square feet of office and industrial space mainly in California, Arizona and Nevada.