Investment Highlights
- 100% leased multi-tenant office building in Lathrop
- Fully occupied since 2021; three of four tenants recently extended their leases
- Building is in excellent condition with high-end finishes
- Attractive parking ratio of 4.83 per 1,000 SF
- Excellent access and visibility from Interstate 5
- Close proximity to supporting retail services
- Across from two master-planned communities with more than 16,000 homes
Investment Overview:
Marcus & Millichap and R. G. Matusich Realtors are pleased to exclusively market for sale a multi-tenant office building in the Mossdale Business Park in Lathrop, CA. The property is 100% leased to four tenants and has been fully occupied since 2021. Three of the tenants have renewed their leases within the last two years, demonstrating the appeal of this property in the local market. Lathrop has limited office inventory, and the subject property is one of the most attractive buildings in the market.
Located at 17270 Golden Valley Parkway, the building contains approximately 23,986 square feet of net rentable area and is situated on 1.51-acre parcel. The building was
constructed in 2005 and features three lobbies, two common area restrooms, a security alarm system, and fire sprinklers. All office spaces feature high-end interior finishes,
high ceilings, and central heating and air conditioning. There are 116 on-site parking spaces for a parking ratio of 4.84 per 1,000 square feet.
The building is located at the intersection of Golden Valley Parkway and Towne Center Drive and has a highly visible location. The Mossdale Business Park is adjacent to Interstate 5 and the property is visible from the freeway. A freeway interchange is located less than one mile north of the property at Louise Drive, making the site easily
accessible from surrounding communities in the Central Valley. Retail amenities are located just north of the site; Target, Sprouts, Starbucks, Chipotle, In-N-Out, and Chick-
fil-A are all nearby.
Lathrop is one of the fastest growing communities in California and the subject property is located across from two major master-planned communities that will bring thousands of new residents to the area. River Islands, one of the largest master-planned communities in Northern California, spans nearly 5,000 acres and will have up to 15,000 homes at completion. The first phase of the project, which includes nearly 5,000 residential units, is nearing completion and the second phase is underway. Full build out of the community is expected to take another 20 years. Stanford Crossing covers more than 1,520 acres, with 773 acres of residential use, and will have 1,458 homes when built out. This development is also underway, and new homes are currently being sold.
Tenant Overview:
Refer to OM
Location Highlights:
- Lathrop is located about 70 miles east of San Francisco and San Jose; it is about 60 miles south of Sacramento
- As of 2023, Lathrop had an estimated population of 29,321; the population has grown 56% since 2010
- The city has a strategic location along Interstate 5 with good access to communities in the Bay Area and Central Valley
- Lathrop is quickly becoming a logistics hub due to its proximity to ports, interstate freeways, and rail lines
- The local economy is centered around agriculture, warehousing and logistics, and the service sector
- San Joaquin County is one of the most productive agricultural regions in the state and nation
- The county has grown as housing prices in the San Francisco Bay Area have pushed people to more affordable locations
Financials:
Refer to OM