- Four-building, Class A industrial portfolio totals 2.04 million square feet in Manteca, California
- Located near major highways and an intermodal rail terminal, the properties sit within a mission-critical logistics hub for regional and last-mile distribution
- Buildings are fully leased to four tenants and offer significant upside from below-market rents and upcoming lease maturities
EQT Real Estate is pleased to announce that EQT Exeter Industrial Value Fund VI has acquired a 2.04 million square foot portfolio of modern logistics facilities in Manteca, California.
The four Class A buildings are strategically positioned near Interstates 5 and 99, with immediate access to a major Union Pacific intermodal terminal, enabling efficient goods movement across Northern California and the broader West Coast.
The properties are fully leased to four tenants across a diverse set of industries, and with a weighted average lease term of less than three and a half years, the portfolio offers significant near-term opportunity to drive substantial rental growth. The assets are built to modern bulk distribution specifications, including 36-foot clear heights, a mix of cross-dock and single-load configurations, ample trailer and auto parking spaces, and excellent truck maneuverability and circulation.
Located in California’s Central Valley, one of the state’s fastest-growing industrial corridors, the assets benefit from proximity to major population centers and transportation infrastructure. The region is increasingly becoming a location of choice for large-scale distribution due to its connectivity, cost advantages, and expanding labor pool.
Matthew Brodnik, Global Chief Investment Officer at EQT Real Estate, said: “This acquisition reflects our conviction in investing behind well-located, institutional quality logistics assets in dynamic markets. With a strong tenant profile, operational upside and clear growth potential, we’re excited to bring these properties into the EQT Real Estate platform and execute our hands-on, locals with locals approach to value creation.”
EQT Real Estate was advised by Michael Kendall, Michael Goldstein, Gian Bruno and Nick Mascheroni of Colliers.
Contact
EQT Press Office, press@eqtpartners.com
About EQT Real Estate
EQT is a purpose-driven global investment organization with EUR 273 billion in total assets under management (EUR 142 billion in fee-generating assets under management) as of 31 March 2025, divided into two business segments: Private Capital and Real Assets. EQT supports its global portfolio companies and assets in achieving sustainable growth, operational excellence, and market leadership. Within EQT’s Real Assets segment, EQT Real Estate acquires, develops, leases, and manages logistics and residential properties in the Americas, Europe, and Asia. EQT Real Estate owns and operates over 2,500 properties and 540 million square feet, with over 440 experienced professionals across 50 locations globally.
More info: www.eqtgroup.com
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