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Bakersfield's tallest building, Stockdale Tower, sold to joint venture partnership

Posted at 10:56 AM, Sep 15, 2016
and last updated 2016-09-16 11:59:15-04

Bakersfield's tallest building has new owners.

The 12-story Stockdale Tower was sold to a joint venture partnership between Cardinal Equities and the David Pick Family Partnership.

The tower, located on California Avenue, had been owned by real estate investment giant LNR Property since 2013.

Stockdale Tower in the News

The sale includes the 177,000-square-foot building, as well as its 98,000-square-foot sister building, and a four-story parking structure nearby. The sale price was not disclosed but insiders say it sold for nearly $40 million.

The top of the tower features the exclusive Petroleum Club. It's unclear if the club could be affected.

"We haven't met with them yet but we look forward to their vision for the building and community," said President/CEO of The Marcom Group Dave Plivelich. "It is a great building and location. The Club is proud to be the centerpiece."

The sale of the building was brokered by Cushman & Wakefield.