Search
 

Klein Investments Buys Former Cannery Property

MODESTO, CA-The San Francisco-based investment partnership pays $4 million for the former Tillie Lewis Foods cannery site with plans to redevelop the nine-acre property into a business park.

By Brian K. Miller | Updated on January 08, 2004

MODESTO, CA-Klein Investments of Tiburon, CA has acquired the nine-acre former Tillie Lewis Foods cannery site. The two-block site at 9th and B contains 183,00 sf of rentable space in seven warehouse buildings that are partially leased.

The seller was the estate of Larry Meyer. The sale price was $4 million. County Bank of Stockton provided $2.6 million in debt financing and the partners of Klein Investment put up $2.3 million in equity capital.

The investment partnership says it plans to spend an additional $1 million to restore and redevelop the 95-year-old former tomato cannery into a business park for Modesto and Central Valley entrepreneurial companies. It will be named the Tillie Lewis Business Park.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.