GALT, CA—KMS LLC has sold a 170,000-sq.-ft. industrial complex here at 100 Enterprise Court for $8 million to an unnamed buyer.
The three buildings are within the KMS Business Park. Constructed in 2000 and 2003, the buildings are 100 percent occupied. BIA Cordon Bleu, a distributor of porcelain and stoneware, occupies the 100 and 120 buildings, utilizing the combined 102,000 sq. ft. as its headquarters. The 68,000-sq. ft. 85 building is occupied by Bimbo Bakeries and three other tenants.
Matt Cologna and Bryce MacDonald with Cushman & Wakefield Inc. represented the seller in the transaction. The buyer was represented by David Lincoln with Marcus & Millichap.
Cologna said in a statement that the 10-million-sq.-ft. Galt-Lodi industrial submarket, located between the Stockton and Sacramento markets, has a vacancy of about 6 percent. “The seller was the original owner/developer of the property,” Cologna said in a statement. “This is a stable market with a relatively low vacancy. The overall region-wide industrial market is stabilizing, and we are starting to make the turn.”