- Bulk distribution buildings offer premier access to Northern California's major metros and Western U.S., and are purpose-built to meet the needs of both logistics operators and specialized food and beverage tenants
- Properties offer ample leasing opportunities and are well-positioned to attract top-tier tenants, with the potential to incorporate temperature-controlled enhancements that meet a variety of specialized operational needs
- With the close of this transaction, EQT Exeter has acquired more than 60 million square feet of logistics properties for a total transaction volume of $8 billion over the last 12 months
PHILADELPHIA, Nov. 22, 2024 /PRNewswire/ -- EQT Exeter, a leading global real estate investment manager, is pleased to announce that the EQT Exeter Industrial Value Fund VI ("EQT Exeter") has acquired two state-of-the-art bulk distribution buildings (collectively "the Properties"), located in the heart of Napa Valley's iconic "Wine Country." The Properties reflect EQT Exeter's commitment to acquiring and enhancing high-caliber industrial buildings in top-tier logistics hubs.
Spanning over one million square feet, the Properties combine best-in-class building specifications with a premier location, offering seamless connectivity to the major metros of San Francisco, Sacramento, and San Jose, as well as the entirety of the western United States. Purposefully designed to support Northern California's thriving food and beverage industry, these bulk distribution properties offer unparalleled proximity to the region's consumer base and production hubs, and feature advanced building and site designs that accommodate both traditional logistics users and specialized operators. Notably, one of the buildings boasts direct rail access, an exceptional feature for real estate of this caliber. EQT Exeter is poised to collaborate with top-tier tenants to implement bespoke enhancements, ensuring the facilities meet the evolving demands for temperature-controlled spaces.
The Properties are currently home to a leading food and beverage operator occupying 337,000 square feet under a lease exceeding 10 years of lease term-a clear testament to the buildings' strategic value and quality. This established tenancy underscores the alignment between EQT Exeter's rigorous standards and the needs of industry leaders.
EQT Exeter's local office, well-positioned to serve Napa Valley and the broader Northern California market, will leverage deep area relationships to ensure these Properties remain central to the region's industrial ecosystem.
"EQT Exeter is committed to delivering spaces that not only meet the complex needs of today's industrial and logistics users, but anticipate the evolving demands and growth ambitions of a variety of tenants, " said Jeremy Hamaoui, Northern California Investment and Leasing Officer at EQT Exeter. "This acquisition reflects our ongoing strategy of investing behind high-quality properties in attractive markets while maintaining a tenant-focused approach to asset management."
EQT Exeter was advised by Ryan Sitov of JLL.
Contact
EQT Press Office, press@eqtpartners.com
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https://news.cision.com/eqt/r/eqt-exeter-to-acquire-more-than-one-million-square-feet-of-class-a-bulk-distribution-buildings-in-th,c4070184
The following files are available for download:
https://mb.cision.com/Main/87/4070184/3129510.pdf | Press Release, Industrial Value Fund VI, Napa Valley Assemblage_241121 |
https://news.cision.com/eqt/i/napa-property-pic,c3354384 | Napa Property Pic |
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