Blue Shield Lodi

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in 3021 Reynolds Ranch Parkway (the “Property”), an institutional quality 2-building office project located just north of Stockton and south of Sacramento in Lodi, California. Strategically positioned with Highway 99 frontage, the 146,845 square foot Class A office property spans across 20.5 acres, and is just steps away from Reynold Ranch, providing direct access to every-day amenities, restaurants and retail options.

The Property is currently 100% owned and occupied by Blue Shield of California (Fitch: A) who will execute a 10-year leaseback on the “North” building of the project which encompasses 81,001 square feet, or 55% of the net rentable area. Throughout their ownership of the Property, Blue Shield has consistently invested in the space in order to hold its place as some of the highest quality product along Highway 99, as evidenced by their $1.4 million of capital spent since 2019. 3021 Reynolds Ranch is widely recognized as the highest quality office project in Lodi and competes with some of the best product in Stockton.

Over the last few years, Lodi and the greater Stockton area have experienced a dramatic influx of tenants from neighboring Silicon Valley and Sacramento, who have been displaced by the continuous expansion of tech giants, and the tangible supply and demand imbalance of affordable office space in those markets. With direct proximity to both of these primary markets, secondary markets like Lodi are strategically positioned to capture the newfound tenant demand that is accelerating out of these MSA’s.

3021 Reynold Ranch Parkway offers investors an exceptional investment opportunity featuring a freshly signed 10-year lease to a credit tenant, 146,845 square feet across 20.5 acres, and a compelling transit-oriented location.

• Blue Shield of CA (Fitch: A) leaseback of 55% of the property
• Best in class office project adjacent to major transportation arterials
• Rare combination of scale & optionality
• $1.4M of capital recently invested with an additional $1.5M deploying in 2021
• Ideal "post-COVID" building features
• Walking distance to high quality amenity base
• Proximity to Sacramento and the Silicon Valley
• Proven ability to retain large corporate tenants