The largest commercial real estate sale in Turlock in the last decade closed on Tuesday at $4.4 million as three doctors purchased the 4.48 acre Turlock Professional Office Park to pursue their dental, orthodontic, and oral surgery practices.
The doctors bought the Turlock Professional Office Park located at 2101 Geer Road — the largest ever purchase of office space in Turlock — with the hopes of breathing new life into not only Turlock, but the region. Two of the three doctors presently rent space in the Park and while fellow tenants will not be asked to vacate, the doctors intend to occupy vacancies as they arise in the nearly 40,000 square foot park.
Commercial real estate services firm NAI Benchmark, an affiliate of NAI Global, negotiated the purchase and is “focused on bringing about substantial improvement and opportunity in this underserved Valley” said Ryan Swehla of the firm.
“This record-setting transaction is the largest sale in Turlock in the past 10 years, and one of the most significant in the region,” he said.
According to one of the doctors, the purchase of the property is not only beneficial to them but also indicative of their collective interest in staying in Turlock.
“The community has been essential to the growth of our practices and to our success, and this is our opportunity to show that investing in Turlock is not only an investment in the city, it’s an investment in our future,” he said. “It’s our chance to give back to the city that has given us so much.”
The doctors include an orthodontist, an oral surgeon, and a dentist. While the three doctors ultimately intend to bring more medical tenants to the Turlock Professional Office Park that boasts 11 buildings, there is no immediate timeline for capital improvements or construction. However, the sale itself is indicative of “positive momentum in the Turlock market,” according to Stanislaus Business Alliance CEO David White.
“Some of our biggest assets are our local growing businesses such as these medical practices,” said White.
The purchase of the Turlock Professional Office Park also bears regional significance as neighboring communities of Modesto, Stockton, and Fresno have not experienced sales of this magnitude in years. According to Swehla, NAI Benchmark is committed to “bringing about substantial improvement and opportunity in this underserved Valley,” and sales like this are vital in making the Valley a dynamic place in which to do business.
“This purchase is an excellent example of that,” he said.